Strides Arcolab & Akorn Inc Agree to expand the Akorn-Strides, LLC Joint Venture Product Pipeline to Twenty-Nine ANDA's

Strides Arcolab Ltd has announced that Akorn Inc. and the Company on December 07, 2006 has announced that both Companies have agreed to fund, develop, and commercialize an additional 10 ANDA injectable drug products for the Akorn-Strides, LLC Joint Venture. Akorn and the Company created and funded the Joint Venture in 2005 and since that time have developed and submitted 15 ANDA’s. Prior to year end, the Joint Venture expects to submit on additional 2 ANDA's for a total of 17 ANDA's filed in 2006. 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.

The additional funding provided to the Joint Venture will expand the Akorn-Strides, LLC to 29 ANDA's for a total of 53 SKU's, or product line offerings. The Joint Venture expects to generate revenues in 2007 based on initial product approvals and subsequent product launches.

Arun Kumar, Executive Vice Chairman and Managing Director of the Company and Member Manager of Akorn-Strides, LLC stated, "We are delighted to expand the pipeline of products to 29 in our Joint Venture with Akorn and we are confident that the Joint Venture will emerge as a significant provider of quality sterile products in the North American region."

Source : Equity Bulls

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