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news.Vaccine manufacturer Massachusetts Biologic Laboratories is to distribute Akorn's tetanus diphtheria vaccine after the two companies struck an exclusive distribution agreement.
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Massachusetts Biologic Laboratories will continue to distribute the tetanus diphtheria vaccine free of charge to the residents of the Commonwealth of Massachusetts. The three-year agreement begins in September, 2007.
Over the course of the agreement, Akorn said it expects to recognize revenue in excess of $150 million with gross margins typical for a vaccine distributor. The contribution to earnings per share is estimated to be $0.10 – $0.11 per year.
Akorn will initially market a multiple-dose vial and expects to introduce a single-dose, preservative-free vial in early 2008. The agreement provides Akorn with exclusive marketing and distribution rights in the US and Puerto Rico.
“Our collaboration with MBL represents an important milestone for Akorn, as we launch our first commercial vaccine product and build out our Biologics and Vaccines business segment,” stated Arthur Przybyl, Akorn’s president and CEO.