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news.Akela Pharma has received a development and manufacturing contract at its PharmaForm subsidiary located in Austin, Texas, for development and manufacturing of a generic form of a commercial product for an undisclosed pharmaceutical company.
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The contract is anticipated to generate $1.5 to $2 million in revenues over the next 12-18 months. The contract includes technical transfer to support GMP manufacturing, process validation, quality release testing and stability characterization.
PharmaForm expects to sign additional contracts with this client to support manufacture of clinical supplies for an additional indication and commercial manufacturing in the near future.
Michael Crowley, vice president of business development at PharmaForm, said: “We are extremely proud to have been awarded this important contract. This contract along with steady interest in our commercial manufacturing services and expansion in our drug product development services validates our growth strategy.”