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news.Akorn and Indian company FDC have signed an exclusive development and supply agreement for two ophthalmic suspension drug products.
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According to the two companies, the eye products currently have a combined US market size of approximately $170 million.
Under the terms of the agreement, FDC will fund the development and be responsible for manufacturing the two ophthalmic suspension drug products. Akorn will be responsible for marketing the two drug products in the US and will receive 40% of the gross profit, while FDC will receive 60% of the gross profit. Akorn will absorb the cost of the Abbreviated New Drug Application (ANDA) filings, FDC will own the ANDAs, and Akorn has agreed to annual minimum unit sales requirements in order to maintain US marketing exclusivity.
“So far this year, we have filed two ANDAs for FDC and look forward to several more,” said Arthur Przybyl, Akorn’s CEO.
“We believe that our strong product development and manufacturing capabilities are very well complemented by Akorn’s strengths in sales and marketing,” stated Nandan Chandavarkar, managing director of FDC.