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news.Akorn, a specialty pharmaceutical company, and an undisclosed ophthalmic company have entered into a five-year supply agreement for an ophthalmic product. Akorn is the abbreviated new drug application holder of the product.
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Under the terms of the five-year agreement, Akorn will be responsible for the manufacturing and supply of the ophthalmic product. Revenues from this agreement are expected to begin in early 2009.
Arthur Przybyl, Akorn’s president and CEO, said: “We continue to grow our contract manufacturing services and are pleased to announce this new long-term partnership. During 2008, Akorn’s contract manufacturing business has expanded to include four new ophthalmic and two new injectable partnerships.
“To date, two ophthalmic partnerships are generating revenue, one injectable partnership is expected to launch in October 2008, and the remaining partnerships will begin generating revenue in 2009.”