Strides Pharma Science Ltd’s subsidiary Strides Pharma Global Pte. Limited has entered into a definitive asset transfer and licensing agreement with Pharmaceutics International, Inc (Pii) to acquire 18 ANDAs from US market.
The total aggregate consideration of US$ 6.1 million payable to Pii towards the transferred assets, of which US$ 4 million is paid upfront and the remainder is payable on achievement of the agreed milestones, the company said.
With access to these products, Strides will significantly expand its niche offerings on its front-end, which has grown multifold to attain a quarterly revenue size of US$ 66 million.
Of the 18 products successfully developed by Pii with their Pharmaceutics know-how, 11 are currently approved by USFDA while the remaining seven products are submitted and are under different stages of review with the agency, it said.
In addition, Strides will also have exclusive marketing rights for levothyroxine sodium tablets, a narrow niche micro dose product indicated as replacement therapy in primary (thyroidal), secondary (pituitary), and tertiary (hypothalamic) congenital or acquired hypothyroidism with a market opportunity of US$ 2.5 billion.