After Cipla, Pfizer firms licensing pact with Strides Arcolab
14 May 2010
Within days of firming up adeal with Cipla, drug giant Pfizer has now signed a licensing and supply pact with Strides Arcolab.
The deal with Strides covers two licencing, supply agreements for 38 oncology products and sterile injectables to be marketed by the drug giant in the US market.
Strides will license and supply up to 38 generic oncology products to Pfizer for markets in the European Union, Canada, Australia, New Zealand, Japan, and Korea.
The second agreement covers niche sterile injectables for the US market. The finished dosage form products will be sold by Pfizer through its Established Products Business Unit.
The financial terms of both agreements were not disclosed by the company and the sales will start in late 2010/early 2011.
''We are delighted to strengthen our engagement - it validates our strategic intent to be a partner of choice to Pfizer and to be a leader in the specialty segment with a focus on specific therapeutic segments such as oncology,'' he said Arun Kumar, vice chairman and group CEO, in a statement.
Kumar said the new territories agreement with Pfizer will be over $7 billion. "This will involve milestone payments, but we cannot disclose the amount, " he told business news channel CNBC-TV18.
David Simmons, president and general manager of Pfizer's established products business unit, said, ''This continued collaboration also reinforces our commitment to become a leader in the injectables market.''
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