FDC Ltd has announced that Akom Inc., a leading marketing company for ophthalmic drugs in the US, have signed an exclusive development and supply agreement for two ophthalmic suspension drug products.
The two drugs currently have a combined United States, market size of approximately $170 million.
Under the terms of the agreement, the company will fund the development and will be responsible for manufacturing the two ophthalmic suspensions. Akom will be responsible for marketing the two drugs in the United States and will receive 40 per cent of the gross profit, while the company will receive 60 per cent of the gross profit generated from sales of the two drugs.
The company will own the ANDA's and Akom has agreed to meet the annual minimum unit sale requirements in order to maintain United States marketing exclusively.
Nandan Chandavarkar, joint managing director of the company stated, "FDC is excited about working with Akom on these suspension products. We believe that our strong product development and manufacturing capabilities are very well complimented by Akom's strengths and marketing."