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news.Generics manufacturer Able Laboratories and private generics developer InvaGen have signed an exclusive development agreement for six generic pharmaceutical products.
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Under the terms of the agreement, InvaGen will develop, manufacture and supply the generic pharmaceutical products exclusively for Able. Able and InvaGen will share the cost of development, bioequivalency studies, and litigation costs, if any.
According to recent market data, the total sales for the six products are estimated to be approximately $10.3 billion. The first abbreviated new drug application (ANDA) has already been filed with the FDA and the remaining five products are targeted for filing within the next 12 to 15 months.
“The six products with InvaGen represent a substantial market for generic products expected to be launched over the next three to four years,” commented Jay Wadekar, chairman and CEO of Able. “With this collaboration as well as other business development efforts in conjunction with our own internal development portfolio we hope to further strengthen our position in the generic pharmaceutical market.”