MAPLE GROVE, Minn., Sept. 27, 2016 /PRNewswire/ -- Upsher-Smith Laboratories, Inc. (Upsher-Smith) today announced that it has entered into an exclusive agreement with Pharmathen S.A. to develop and distribute a generic product in a market category with U.S. sales of more than $500 million (IMS Health, 12 months ending in July 2016). This new collaboration illustrates Upsher-Smith's ongoing interest in building strategic relationships to grow its generic product pipeline.
Under the terms of the agreement, Pharmathen will develop, manufacture and supply the product. Upsher-Smith will submit the ANDA, market and distribute the product exclusively in the United States as a generic under the Upsher-Smith label. Financial terms have not been disclosed.
"Upsher-Smith is pleased to collaborate with Pharmathen, one of the fastest growing generic companies in Europe," said Rusty Field, President, Upsher-Smith. "Our commitment to quality and cost-effective products, coupled with the highest level of customer support, has helped make Upsher-Smith a trusted partner in the U.S. generics marketplace."
Upsher-Smith Laboratories, Inc., founded in 1919, is a growing, fully integrated pharmaceutical company dedicated to its mission of delivering high-value, high-quality therapies and solutions which measurably improve individuals' lives. As a family-owned pharmaceutical company, we are able to adapt and thrive in a dynamic healthcare environment. Our world is constantly evolving, and we are continually adapting to the ever-changing needs of patients, physicians, pharmacists, and healthcare organizations. Where there is a need, we will work to deliver solutions that simplify access to treatment, deliver better health outcomes, and enhance life. For more information, visit www.upsher-smith.com.
Pharmathen is a leading European pharmaceutical company focused on the development, manufacturing and out-licensing of complex drug delivery platforms, such as Long Acting Injectable technologies, Sustained Release formulations and Preservative Free Ophthalmics. It is one of the very few independent, vertically integrated specialty drug developers in Europe and has a long and successful development and commercialisation track record. Pharmathen has developed more than 110 dossiers to date and has filed more than 90 patents successfully, leading to over 6,500 market authorisations. Its own developed products are out-licensed to 200 global blue-chip customers and sold in over 80 countries by the largest pharmaceutical companies in the world. Pharmathen's business is entirely vertically integrated, with 1,000 employees working across three state of the art research laboratories and two manufacturing units.
SOURCE Upsher-Smith Laboratories, Inc.