Strengthening the collaboration announced earlier this year, Strides Arcolab (BSE: 532531, NSE: STAR) today announced the signing of two licensing and supply agreements with Pfizer Inc. (NYSE: PFE) to address new markets and product segments. Under the first agreement, Strides will license and supply up to 38 generic oncology products to Pfizer for markets in the European Union, Canada, Australia, New Zealand, Japan, and Korea. The second agreement covers niche sterile injectables for the U.S. market. The finished dosage form products will be commercialized by Pfizer through its Established Products Business Unit. The financial terms of both agreements were not disclosed.
“We are excited about extending our important partnership with Strides to reach an even larger global patient population,” said David Simmons, president and general manager of Pfizer’s Established Products Business Unit. “This continued collaboration also reinforces our commitment to become a leader in the injectables market.”
The new agreements follow an agreement between Pfizer and Strides Arcolab announced in January 2010 to deliver 40 generic products, many of which are oncology therapeutics, to healthcare providers and patients in the United States. With the agreements signed today, the collaboration between Pfizer and Strides Arcolab now extends to a total of 45 products addressing countries around the globe.
“We are delighted to strengthen our engagement - it validates our strategic intent to be a partner of choice to Pfizer and to be a leader in the specialty segment with a focus on specific therapeutic segments such as oncology,” said Arun Kumar, Vice Chairman and Group CEO.
Under the new agreements, the first of the products is expected to be commercialized in late 2010/early 2011.
Pfizer’s Established Products Business Unit launched its U.S. Injectables team about a year ago and is already marketing products in the United States. Through this collaboration with Strides, Pfizer continues to demonstrate its commitment to become one of the top players in the injectables market.
Strides Arcolab Limited: Leadership through Partnering
Strides Arcolab, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables.
The company has 14 manufacturing facilities across 6 countries and has a presence in more than 75 countries in developed and emerging markets. Manufacturing is ably supported by a 350-scientist strong global R&D Centre located in Bangalore. Additional information is available at the company’s website at www.stridesarco.com.
