Strides Arcolab, US firm in drug development pact

Strides Arcolab, the Bangalore-based pharmaceutical company, has announced a drug development tie-up with Able Laboratories, a New Jersey, US-based generic drug maker.

The alliance, through Arcolab's wholly owned US subsidiary Strides Inc, is for a specialty prescription generic drug that will be developed by Strides exclusively for Able and will be commercially manufactured and supplied to Able after it is approval by the US Food and Drugs Administration (FDA).

Arun Kumar, managing director and group CEO of Strides Arcolab, said, "We intend to become a niche player in the US generics market by leveraging our manufacturing and product development skills."

Strides has twelve manufacturing plants worldwide including a FDA-approved plant at Somerset in New Jersey. The product is expected to be developed at this location, the company said.

Jay Wadekar, chairman and chief executive officer of Able Laboratories, said in a media release, "We will continue to review additional opportunities to grow this relationship in the future."

Able has in the recent past signed supply and cooperation agreements with Aspen of South Africa, SORM of Japan and Akorn of the US.

It has a presence in more than 50 countries with manufacturing plants in Brazil, Mexico and the US. It supplies bulk drugs to various companies in Latin America, UK, South East Asia, Africa, Australia and Russia.

The company's Indian manufacturing facilities for the regulated markets are approved by all major regulatory bodies such as MHRA, EU, TGA and MCC.