May 13, 2008: California based Spectrum Pharmaceuticals has sold its abbreviated new drug applications (ANDAs) for its injectable generic drugs, ondansetron, carboplatin, fludarabine, and mitoxantrone, to Sagent Pharmaceuticals.
“The sale of these non-core assets provides additional non-dilutive funding which will be used to further fund the advancement of our late stage clinical programs,” said Rajesh C. Shrotriya, Chairman, President and Chief Executive Officer of Spectrum Pharmaceuticals.
“This transaction allows us to quickly add these important near-term products to our pipeline of more than 200 products,” said Jeffrey M. Yordon, CEO, founder and chairman of the board of Sagent Pharmaceuticals. “Our extensive global development network will enable us to accelerate commercialization of these products at a comparatively low cost.”
(Source:www.biospectrumasia.com)
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