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news.Par Pharmaceutical is to collaborate with Istanbul-based MN Pharmaceuticals to develop and market up to ten generic versions of injectable drugs.
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Under the terms of the agreement, MN will be responsible for the development and manufacture of all products, whilst Par will provide regulatory affairs support and submit each abbreviated new drug application to the FDA as the US filing agent on behalf of MN.
Par will also be responsible for any litigation expenses arising from the ANDA submissions, and will have exclusive rights to market, sell and distribute the products in the US. The partnership will share the net profits generated by all marketed products.
“We are very pleased to enter into this partnership with MN Pharmaceuticals,” said Scott Tarriff, president and CEO. “MN is one of Turkey’s leading and oldest pharmaceutical companies, and is widely respected within the global pharmaceutical community. This collaboration permits Par to enter a new market segment, generic injectables, in a cost effective way.”