In Februrary 2005, Spectrum entered into a strategic alliance with Par Pharmaceutical Companies, Inc. (NYSE: PRX) for the sale and distribution of the Company's generic drugs including a filing done with paragraph IV certification for sumatriptan injection. The agreement covers Spectrum's pending and approved Abbreviated New Drug Applications (ANDAs) and additional ANDAs currently being developed. Spectrum will receive certain milestone payments on achievement of specified regulatory approvals and the parties shall share the profits from the sale of Spectrum's generic products. In addition, Par shall provide financial and legal support for the ongoing paragraph IV patent challenge for sumatriptan injection. Par also has agreed to make an equity investment in Spectrum, within 24 months of the agreement, at Spectrum's request.
Par Pharmaceutical Companies, Inc. develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. Par's Generic Products Division is committed to providing high-quality pharmaceuticals that are affordable and accessible to patients. Par manufactures, markets or licenses more than 100 generic drugs.
Par's expertise in the field of generics, financial strength and drug distribution skills should enhance and expedite the development of Spectrum's generics program.
Par Pharmaceutical Companies, Inc. – Website
 |
 |
|||||
|
|
 |
 |
 |
 |
 |
|
 |
||||||
 |
|
|
|
|
|
|
