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news.US firm KV Pharmaceutical has acquired exclusive rights from Budapest's Gedeon Richter to market a broad group of generic drug products in the US through KV’s marketing division, Ethex.
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The products will serve the cardiovascular, diabetic and central nervous system categories. Subject to FDA approval and patent expiries, the products will enter the US marketplace over the next several years throughout 2017. The estimated branded value of the products, based on 2005 IMS data, is approximately $20 billion according to the companies.
Under terms of the agreement, Gedeon Richter will have responsibility for the development, manufacturing and regulatory requirements of the products. Gedeon Richter will receive a share of the revenues. Specific terms of the agreement were not disclosed.