Strides Arcolab Ltd has entered agreement with ACCU-BREAK Pharmaceuticals, Inc. to set up a world-wide Joint Venture Company (JVC) to develop generic products using the patent pending ACCU-BREAK technologies. This will be accomplished through a NEWCO to be called ACCU-STRIDES, a 50:50 JVC.
It is anticipated that the JVC will outsource from the company an exclusive product pipeline of generic and ANDA products in finished dosage forms. It is also anticipated that the JVC will outsource from ACCU-BREAK Pharmaceuticals sales, marketing and distribution capabilities for the North American markets while the company will provide sales, marketing and distribution capabilities for the rest of the world. The product dossiers developed for the JVC by the company will be owned exclusively by the JVC.
Arun Kumar, vice-chairman and group CEO of the company stated, "The ACCU-BREAK - Strides JVC is a true reflection of the "Strides Value" partnership model. Using our niche manufacturing and product development skill sets, Strides will ramp-up the product pipeline to leverage various ACCU-BREAK technologies to create a worldwide specialty generic Pharmaceutical company. We will work towards creating critical mass for the JVC and significant value to all stakeholders."
ACCU-BREAK tablets are designed for maximal dose accuracy when split, as well as for ease of breaking and to provide an optimal dosage for the millions of patients who split the tablets.
Currently, the Company has a total of fourteen manufacturing plants worldwide including an FDA approved plant in Bangalore, India where the ACCU-BREAK products will be manufactured. It is expected that the products using the ACCU-BREAK technologies will be developed for regulatory submission world wide beginning in FY 2007.