aaiPharma Inc, a leading, science-based pharmaceutical company focused on pain management, announced that the company has received approval by the US Food and Drug Administration (FDA) for its New Drug Application (NDA) for MVI Adult (Multi-Vitamin Infusion), Pharmacy Bulk Package. (The Company previously reported the FDA's approval of a related NDA, regarding the single-dose and univial presentations of MVI Adult, on January 30, 2004.)
"We are very pleased with the approval of both NDAs for MVI Adult. With these product approvals, aaiPharma will now be able to offer the most comprehensive, reformulated, low aluminum, infusion multivitamin product line to the market," commented Dr Philip Tabbiner, CEO of aaiPharma. "With this approval, the conditions for the contingent payment due to AstraZeneca have been met and, as previously guided in the event that these conditions were met, the company will make a third quarter payment of $31.5 million as the remainder of the purchase price for MVI."