13 July 2017 | News
The parties intend to begin with the development of five generic extended release products and to develop additional such products after that.
Elite Pharmaceuticals, Inc., a specialty pharmaceutical company developing abuse-deterrent opioids and niche generic products, has entered into a new Development and License Agreement with SunGen Pharma, LLC.
This collaboration is intended to develop and commercialize generic pharmaceutical products based upon a unique drug delivery platform used for extended release products. The parties intend to begin with the development of five generic extended release products and to develop additional such products after that.
More than a dozen products utilize this type of technology. This new co-development agreement will build upon the success of the first development agreement signed by Elite and SunGen in 2016.
Under the terms of the Agreement, Elite and SunGen will share the responsibilities and costs of the development and marketing of the products. Upon FDA approval, the products will be owned jointly by Elite and SunGen. Elite will manufacture and package all the products on a cost plus basis.
The product classes include CNS stimulants, anticonvulsives, antipsychotics and antihypertensives. For the twelve months ending March 31, 2017, the five products and their generic equivalents had total U.S. sales of more than $2.5 billion according to IMS Health Data.