The Baroda based Alembic Limited has entered into an exclusive product development agreement with the US based KVD Pharmaceuticals and a marketing company Masters Pharmaceuticals to develop nine prescription generic products that represent more than $1.4 billion in US market sales.
Under the terms of the agreement, Alembic Limited and KVD Pharma will jointly develop the products for the US market. The drugs will be manufactured and sold under the KVD Pharma label. Masters Pharmaceuticals, a marketing company, will provide exclusive sales, marketing and distribution support for the United States.
According to Alembic sources, the alliance with KVD Pharma and Masters Pharmaceuticals would position Alembic as a new powerful force in the US generic marketplace. The Rs.638 crore Alembic Ltd. has a US FDA and EDQM approved API facility at Panelav in Gujarat. It also recently started a formulation facility at Baddi in Himachal Pradesh with an investment of Rs.28 crore and its Rs.21.6 crore new R&D facility, got the DCGI's approval. The company has already filed Drug Master files on Venlafaxine HCL, Leflunomide, Fenofibrate, Modafinil, Cilostazol, Azithromycin monohydrate, Moclobemide etc. in the regulated markets.
KVD Pharma, headquartered in Branchburg, New Jersey develops and manufactures generic versions of niche brands. Its manufacturing facilities have capabilities to make both solid dosage forms and liquid orals in immediate release and controlled release technology. In November 2005, Masters Pharmaceuticals and KVD Pharma entered into an agreement that merged both companies' expertise and resources for generic prescription products to capitalize on the more than $4 billion in pharmaceutical sales that KVD has in development through 2009.
Masters Pharmaceuticals is a privately owned pharmaceutical company headquartered in Cincinnati, Ohio that markets generic pharmaceutical products. It has proprietary 140-station call centre to sell generic products provided by its manufacturing partners and presently serves more than 6,000 customers nationwide and projects 10,000 pharmacy customers by 2007, said sources.