Mar 11, 2008 - Akorn-Strides, LLC today announced the approval of an ANDA for Tobramycin Injection USP, 80 mg/2mL and 1.2 grams/30mL. Akorn-Strides, LLC is a Joint Venture that was formed in 2005 by Akorn, Inc. (NASDAQ: AKRX) and Strides Arcolab Limited (NSE: STAR, BSE: 532531). The primary mission for the Joint Venture is developing liquid, lyophilized and dry powder fill generic injectable products targeting several therapeutic markets with a major focus on anti-infectives, analgesics and CNS medicines.
Tobramycin Injection is an antibiotic and is indicated for the use in treating or preventing infections that are proven or strongly suspected to be caused by susceptible bacteria. Recent IMS data estimates an annual marketsize of approximately $19 million.
The current product portfolio of the Joint Venture, which is funded equally by Akorn and Strides Arcolab, was recently expanded and now includes 29 ANDA's with a total of 53 SKU's, or product line offerings. To date, the Joint Venture has filed for 17 ANDA's. The Joint Venture expects to generate product revenues in 2008 based on this and future product approvals, as well as subsequent product launches.
In a statement given by Arthur S. Przybyl, President and CEO of Akorn and Member Manager of Akorn-Strides, LLC, "We are excited to announce this product approval for Tobramycin Injection."
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