Elite, SunGen Pharma Collaborate On GenericsBy
Elite Pharmaceuticals, a Northvale, New Jersey-based company developing abuse-deterrent opioids and niche generic products, has formed a collaboration with SunGen Pharma, a North Brunswick, New Jersey-based company specializing in oral solid extended release and complex injectables, to develop and commercialize four generic pharmaceutical products.
Under the agreement, Elite and SunGen will share in the responsibilities and costs of development. Upon approval, the products will be owned jointly by Elite and SunGen. SunGen will have the exclusive right to market and sell two of the products using SunGen's label, and Elite will have the exclusive right to market and sell two of the products using Elite's label. Elite will manufacture and package all four products on a cost plus basis.
Two of the products are central nervous system stimulants and the other two are beta blockers. For the twelve months ending June 30, 2016, the four products and their generic equivalents had total US sales of more than $3 billion according to IMS Health Data and as cited by Elite.
Source: Elite Pharmaceuticals