Alchemia achieves milestone in generic fondaparinux commercialization

As a consequence, Alchemia will receive payments totaling $1.62 million from Dr Reddy’s, its manufacturing and marketing partner. Approximately $1 million will be received in December 2008 and a further $625,000 upon the earlier of the approval of the abbreviated new drug application (ANDA) and December 31, 2009.

According to Alchemia, the trigger for the payment, which is subject to confidentiality under the terms of the company’s commercialization agreements with Dr Reddy’s, signals important progress toward the filing of the fondaparinux abbreviated new drug application with the US Federal Drug Administration.