FDC ltd signs agreement with Akorn Inc for 2 Opthalmic drugs

Mumbai, Nov 14 (UNI) FDC ltd and Akom Inc USA have signed an exclusive development and supply agreement for two Ophthalmic suspension drug products.

Announcing this to BSE, the company said the two drugs currently have a combined United States, market size of approximately 0 million. Under the terms of the agreement, FDC will fund the development and be responsible for manufacturing the two Ophthalmic suspensions.

Akom will be responsible for marketing the two drugs in the United States and receive 40 per cent of the gross profit, while the Company will receive 60 per cent of the gross profit generated from sales of the two drugs.

FDC will own the ANDAs (abbreviated new drug application) and Akom has agreed to meet the annual minimum unit sale requirements in order to maintain United States marketing exclusively.

Mr Nandan Chandavarkar, Jt Managing Director of FDC said,''FDC is excited about working with Akom on these suspension Products. We believe that our strong product development and manufacturing capabilities are very well complimented by Akom's strengths and marketing.'' UNI SN PM VKG1909