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news.Amerigen Pharmaceuticals and AustarPharma have signed an agreement to develop generic oral controlled release products.
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As per the agreement, AustarPharma will use its proprietary technologies for developing and manufacturing products for Amerigen to commercialize in the US and other territories.
The terms of the agreement allow AustarPharma to obtain an up-front payment from Amerigen including additional product specific development milestones, plus manufacturing revenues and royalties on any commercialized products.
Amerigen chief business officer Jonathan Embleton said they look forward to working with AustarPharma to complete the development and file for approval for some technically challenging products.
AustarPharma president and CEO Ron Liu said the combination of Amerigen’s development, regulatory and commercial capabilities and AustarPharma’s controlled-release technologies in generic drug development will benefit both companies.