Strides Arcolab and Akorn Inc have agreed to fund, develop, and commercialise an additional 10 ANDA injectable drug products for Akorn-Strides, LLC joint venture. According to an official release issued by Strides to the BSE today, the JV, set up in 2005, has developed and submitted 15 ANDAs. Before the year-end, it expects to submit on additional 2 ANDA's for a total of 17 ANDA's filed in 2006. The JV firm is developing liquid, lyophilized and dry powder fill generic injectable products targeting several therapeutic markets with a major focus on anti-infectives, analgesics and CNS medicines.The additional funding provided to the JV will expand the Akorn-Strides, LLC to 29 ANDA's for a total of 53 SKU's, or product line offerings. It expects to generate revenues in 2007 based on initial product approvals and subsequent product launches, the release said.Arun Kumar, executive vice chairman & MD of Strides and member manager of Akorn-Strides, LLC stated: "We are delighted to expand the pipeline of products to 29 in the JV and we are confident that it will emerge a significant provider of quality sterile products in the North American region."
