KV Pharma to market new generic drugs in U.S.
Wednesday, February 15, 2006, 16:13
KV Pharmaceutical Company has acquired exclusive rights from Hungarian pharmaceutical company Gedeon Richter Ltd. to market a broad group of generic drug products in the U.S.
marketplace through KV’s wholly-owned generic marketing division, ETHEX Corporation, the companies announced. KV has consistently ranked as one of America’s fastest growing small companies, most recently by Forbes’ in its November 2004 issue.
The products will serve the Cardiovascular, Diabetic and Central Nervous System including psychotropic categories. Subject to the approval of the Food and Drug Administration (FDA) and patent expiries, the products will enter the U.S. marketplace over the next several years throughout 2017. The estimated branded value of the products is approximately USD 20 billion. Two of the products are already filed with the FDA and a third will be filed shortly.
Under terms of the agreement, Gedeon Richter will have responsibility for the development, manufacturing and regulatory requirements of the products. Thus, Gedeon Richter will receive a share of the revenues. Specific terms of the agreement were not disclosed.