Strides Arcolab Limited and Accu-Break Pharmaceuticals, Inc. have terminated their joint venture agreement which was inked on June 5, 2006. The Joint Venture initially intended to develop generic products for sale in the United States using the patent pending Accu Break tablet technologies. However, ABP's business model subsequently evolved and now includes potential brand sales of bioequivalent products and out licensing of certain products.
Strides and ABP have determined that the joint venture agreement no longer meets the needs of the parties and have elected to terminate the joint venture with each party to bear its own expenses.
Strides Arcolab Limited has a global presence in more than 50 countries. The company has factories in India, USA, Poland, Italy, Brazil, Singapore and Mexico. The company supplies pharmaceuticals to a number of geographic locations including Latin America, Europe, South East Asia, Africa and Australia, amongst other markets. The Indian manufacturing facilities for the regulated markets are approved by all major regulatory bodies such as US FDA, MHRA, TGA and MCC.
Accu-Break Pharmaceuticals, Inc. is a privately held pharmaceutical company that is developing the ACCU-BREAK technologies.