2 July 2020
Acrux Limited a commercial-stage pharmaceutical company focused on developing generic topical drug products is pleased to announce that it has entered into an exclusive development and commercialisation agreement with Amring Pharmaceuticals, Inc. in the United States. The product under development generated sales in the United States in excess of $400 million in the 12 months to the end March 2020 based on IQVIA data.
Under the terms of the agreement, Acrux will continue to conduct the development, scientific and bioequivalence activities necessary to develop the generic product and Amring will seek regulatory approval with the U.S Food and Drug Administration (“FDA”). Subject to approval by the FDA, Amring will commercialise the product in the United States. Acrux and Amring will share the development costs and the profits generated from the sales of the generic product.
Acrux CEO and Managing Director, Michael Kotsanis said: “This is a significant opportunity for both Acrux and Amring and we look forward to developing a long-lasting relationship with Amring. This is an important step forward in the development of a complex and exciting product. The development of a generic of this product will benefit patients and provide a platform for continued long term growth.”
Read the full media release.