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news.Olive Healthcare, an India-based manufacturer and exporter of pharmaceutical products, has signed an agreement to supply two pharmaceutical products for Lannett Company to distribute in the US.
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The companies have not disclosed details of the specific compounds involved in the supply but have said that sales of the products exceeded $130 million in 2005.
Lannett, a US based generic drug company, will provide assistance with assembling and submitting the abbreviated new drug applications (ANDAs) and gaining FDA approval for Olive Healthcare's manufacturing plant.
“We are pleased to collaborate with Olive Healthcare on this project,” said Arthur Bedrosian, Lannett's president and chief executive officer. “We continue to examine opportunities with foreign and domestic manufacturers in order to expand our product line and anticipate that this opportunity, as well as those announced earlier this year, will begin adding to our sales in Fiscal 2007.”