Medicure Inc., a specialty pharmaceutical company, has initiated the development of a high-value cardiovascular generic drug. The project is a collaboration between Medicure International, Inc. (a wholly owned subsidiary of Medicure Inc.) and Apicore US LLC (together with its affiliates Apicore), a leading-edge manufacturer of generic active pharmaceutical ingredients (APIs).
The collaborative project is focused on the development of an intravenous abbreviated New Drug Application (ANDA) drug product for an acute cardiovascular indication. Medicure and Apicore have entered into an exclusive product supply and development agreement under which Medicure holds all commercial rights. The companies anticipate filing the ANDA with the US Food and Drug Administration by the end of 2016.
Medicure, through its affiliates, is a minority shareholder in Apicore and holds an option to acquire all of the issued shares of Apicore until July 2017, as previously announced on July 3, 2014.