Orchid Chemicals & Pharmaceuticals Ltd has signed a fresh marketing pact with Par Pharma for four non-antibiotic products for distribution in the US generics market. These four products fall under the CNS and anti-emetic segments. The Company has also signed a deal with Phoenix for a unique veterinary cephalosporin product covering the US, Canada and Mexico markets. These agreements come in the wake of the two other major deals with Alpharma and STADA announced by the company recently in the non-antibiotics space.
These recent agreements cover several blockbuster products currently under patent and involve a development funding revenue stream of USD 25 million in the aggregate to the company payable in milestone linked installments between 2005 and 2007. The Company would also receive profit share as the products get commercialised. These products account for a current retail market size of USD 25 billion, in US and select European countries. The first milestone payments have already been received upon executing of the agreements, release from Orchid stated.
The company had earlier entered into similar agreements with Apotex and Par for distribution of its sterile and oral antibiotic formulation range of products which are set to be launched in the US from this fiscal progressively upon regulatory approvals and patent expiries.