KV Pharmaceutical Company has entered into an agreement with Gedeon Richter, Plc of Budapest, Hungary, and jointly with Gedeon Richter USA for licensing rights to certain of KV's technologies and products in women's health. The agreement expands the parties' relationship and allows Gedeon Richter rights to manufacture and distribute certain of KV's proprietary technologies and products in its territories, including the European Union. KV Pharmaceutical will receive undisclosed milestones and royalties for products developed under the terms of the agreement.
The agreement also provides for the development of additional products in the future. KV retains the rights to the products and technology in the US.
David Van Vliet, interim CEO at KV Pharmaceutical Company said, "KV Pharmaceutical and Gedeon Richter have for many years enjoyed an excellent relationship and business collaboration and we are very pleased to extend it in this fashion. We believe this agreement allows both Richter and KV to offer additional enhanced products to more completely serve physicians and their patients."
Erik Bogsch, CEO of Gedeon Richter Plc. Commented, "I am pleased to inform you about the extended cooperation between the two companies. We consider this agreement as an important step towards our strategy acquiring projects or products with high added value nature, as it allows us to enhance our existing female healthcare portfolio, not only in our traditional markets, but in all the EU member states. Present in-licensed products, as well as Richter's future proprietary development products will be produced at Richter's facilities based on KV's excellent technology platform."
KV Pharmaceutical Company is a fully integrated specialty pharmaceutical company that develops, manufactures, markets, and acquires technology-distinguished branded and generic/non-branded prescription pharmaceutical products.