Pfizer and Strides Arcolab to Collaborate on Generic Products
NEW YORK--(BUSINESS WIRE)--Pfizer (NYSE: PFE) and Strides Arcolab (BSE: 532531, NSE: STAR) today announced a new collaboration, wherein Pfizer will commercialize off-patent sterile injectable and oral products in the United States through its Established Products Business Unit. These finished dosage form products will be licensed and supplied by Strides and Onco Laboratories Limited and Onco Therapies Limited, two joint ventures between Strides and Aspen, South Africa, in which each has a 50% ownership interest. The financial terms of the supply agreement were not disclosed.
"Partnering with Pfizer enhances our ability to reach a larger base of customers and patients in need of quality treatment options"
The companies believe this is a highly complementary collaboration, which is expected to deliver 40 off-patent products, many of which are oncology therapeutics, to healthcare providers and patients in the U.S., by joining Pfizer's solid commercial infrastructure with Strides's high-quality manufacturing capabilities. The first of the products commercialized under this collaboration is expected to be launched in 2010.
"This Strides collaboration is new and exciting, and we are encouraged about the potential of this relationship," said David Simmons, president and general manager of Pfizer's Established Products Business Unit. "In addition, this agreement brings the total number of products in-licensed by our Established Products Business Unit to more than 200 -- resulting in a total business unit portfolio of approximately 600 high-quality, reliable, and cost effective products for patients."
"Partnering with Pfizer enhances our ability to reach a larger base of customers and patients in need of quality treatment options," said Arun Kumar, Strides Founder and Managing Director. "We have established a reputation for efficient formulation development and technologies, manufacturing, and operational flexibility and are looking forward to bringing these strengths to bear in our collaboration with Pfizer."
Pfizer's Established Products Business Unit launched its U.S. Injectables team less than 10 months ago and is already marketing products in the U.S. Through this new collaboration with Strides, Pfizer continues to demonstrate its commitment to become one of the top players in the injectables market.
Strides Arcolab Limited: Leadership Through Partnering
Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables.
The company has 14 manufacturing facilities across 6 countries, including its joint venture with Aspen in India and has a marketing presence in more than 60 countries in developed and emerging markets. Manufacturing is ably supported by a 350-scientist strong global R&D Centre located in Bangalore.
Pfizer Inc.: Working together for a healthier worldTM
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world's best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world's leading biopharmaceutical company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com.
DISCLOSURE NOTICE: The information contained in this release is as of January 6, 2010 and neither Pfizer nor Strides Arcolab assumes any obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
This release contains forward-looking information that involves substantial risks and uncertainties about the successful commercialization of sterile injectable and oral products in the U.S. pursuant to the collaboration between Pfizer and Strides Arcolab. Such risks and uncertainties include, among other things: potential difficulties in manufacturing and marketing; uncertainties related to general economic, business, industry, regulatory and market conditions; and competitive developments.
A further description of risks and uncertainties with respect to Pfizer can be found in Pfizer's Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and in its reports on Form 10-Q and Form 8-K.