Granules India's US subsidiary Granules Pharmaceuticals, Inc., has entered into an agreement with USpharma, based in the USA, to acquire 12.5 per cent stake. This investment will enable Granules to participate in product selection and have right of first refusal to market the select products which are under development by USpharma.
USpharma is a development-stage pharmaceutical company specializing in research, development and manufacture of high entry-barrier generic pharmaceuticals, including controlled-release, controlled substance and patent-challenge products. USpharma in collaboration with manufacturing partners had submitted five ANDAs with Paragraph IV certifications, out of which four ANDAs have already been out licensed to Granules exclusively.
USpharma has formulation development and manufacturing facilities in Philadelphia, Pennsylvania, USA, Mumbai and cGMP analytical laboratory in Kansas City, Missouri, USA.
Krishna Prasad Chigurupati, chairman and managing director, Granules India, said, “The agreement with USpharma complements our internal product development program, and expands our product portfolio by leveraging external product development capabilities. The successful development of limited competition products by USpharma provides further long-term growth for the company. We are impressed with USpharma's product development capabilities with niche pipeline, and firmly believe that these products represent a substantial commercial opportunity.”