Under the agreement, Granules will develop and register selected products for US ANDA submission, and will receive up front and milestone payments. Heritage will retain exclusive sales and marketing rights to such products. Both parties will share net profits from the product sales.
Commenting on the deal, Mr C Krishna Prasad, managing director, said: “This is in line with our overall strategy for partnering with prescription product marketers on a development and manufacturing agreement. We are confident that Heritage will deliver the required market share to make it a mutually profitable business model.”