EAST BRUNSWICK, N.J. and EDISON, N.J., June 8, 2011 /PRNewswire/
— Amerigen Pharmaceuticals Limited and AustarPharma, LLC today
announced they had entered into a broad-based collaboration
agreement regarding the development of generic oral controlled
release products. Under the terms of the agreement, AustarPharma
will use its proprietary technologies to develop and manufacture
products for Amerigen to commercialize in the United States and
other territories. AustarPharma received an up-front fee and is
eligible for additional product specific development milestones,
plus manufacturing revenues and royalties on any commercialized
products.
“This collaboration allows Amerigen to augment its internal
product development activities and accelerate the company’s efforts
to build a portfolio of differentiated, high value generic
pharmaceuticals,” said Jonathan Embleton, Chief Business Officer
for Amerigen. “We look forward to working with AustarPharma to
complete the development and file for approval for some technically
very challenging products.”
President & CEO of AustarPharma, Dr Ron Liu commented, “As a
technology based company, AustarPharma focuses on developing high
technology barrier products. The combination of Amerigen’s
development, regulatory and commercial capabilities and
AustarPharma’s advanced controlled-release technologies in generic
drug development will greatly benefit both companies. We highly
value this collaboration.”
About Amerigen
Amerigen Pharmaceuticals is a group of companies engaged in all
phases of the generic pharmaceutical business, with operations in
the US and China. The group is controlled by Amerigen
Pharmaceuticals Limited. The US regulatory and commercial
activities within the group are conducted by Amerigen
Pharmaceuticals Inc., based in East Brunswick, NJ, USA. The group’s
Chinese subsidiary, Suzhou Amerigen Pharmaceuticals Limited, is
located in Suzhou, Jiangsu Province. The group has an a
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