Strides signs mktg deal with K V Pharma

Strides Acrolab has signed an exclusive marketing license agreement with KV Pharmaceutical Company. According to the agreement, K V Pharma will market 10 new generic drugs of Strides Acrolab in US and Canada.

According to a release issued by Strides Acrolab to the BSE, K V Pharma will make an investment of $11.3 million in redeemable preference shares of the company, subject to shareholders approval.

The agreement further states that Strides will develop and manufacture the 10 products, and submit for regulatory approval, the release said.

"Strides is very excited to be partnering with a leading specialty pharmaceutical company that has the marketing expertise to turn our products into successful commercial initiatives," stated Arun Kumar - Group CEO & MD of Strides Acrolab.

"This agreement allows us to focus on our development and formulation capabilities while accelerating our entry into the U.S. pharmaceutical marketplace" Arun Kumar added further.