SCHAUMBURG, Ill., Oct. 30 /PRNewswire/ -- Sagent Pharmaceuticals, Inc., a privately-held specialty pharmaceutical company, and Strides Arcolab Limited, one of India’s largest exporters of pharmaceutical products, today announced finalization of an agreement to jointly develop, supply and market injectable products for the U.S. market. The agreement initially targets more than 25 products. Under the agreement, Strides will develop and supply injectable products that Sagent will market in the United States.
“This joint venture is an important step in Sagent’s establishing a deep, consistent pipeline of quality products,” said Jeffrey M. Yordon, CEO, founder and chairman of the board of Sagent Pharmaceuticals, Inc. “The strength and experience of our sales organization as well as our marketing and distribution capabilities coupled with Strides’ extensive development and manufacturing expertise positions us strongly in the specialty injectable market. We are extremely pleased to be working with an organization of Strides’ caliber.”
Mr. Arun Kumar, Strides’ founder and managing director, stated, “We are extremely pleased with our new joint venture with Sagent for a range of specialty injectables and are confident that the partnership will create value for our stakeholders and enrich Sagent’s offering of quality pharmaceutical products.”
About Sagent Pharmaceuticals, Inc.
Sagent Pharmaceuticals, founded in 2006, is a privately held specialty pharmaceutical company focused on developing, manufacturing, sourcing and marketing pharmaceutical products, with a specific focus on injectable products. Sagent has created a unique, global network of resources, comprised of rapid development capabilities, sophisticated manufacturing and innovative drug-delivery technologies, quickly yielding an extensive portfolio of pharmaceutical products that fulfills the evolving needs of patients. Sagent currently has more than 200 products in development.
Sagent recently announced the close of a $53 million Series A round of financing. The proceeds from the financing will be used primarily to fund near-term product launches, product development activities and strategic business initiatives, including numerous development, sales and marketing, manufacturing and distribution partnerships.
In addition, Sagent also entered in an agreement with Anesiva to co-promote Zingo(TM), (lidocaine hydrochloride monohydrate) powder intradermal injection product, and will manage Zingo’s U.S. distribution, for three years. Zingo, a needle-free product that provides fast-acting topical, local analgesia, has been recently approved by the U.S. Food and Drug Administration (FDA) to reduce the pain associated with venous access procedures, such as IV insertions or blood draws, in children three to 18 years of age. The most common adverse reactions are skin reactions at the site of administration: redness (erythema), red dots (petechiae), and swelling (edema). Under the agreement, Sagent will join with Anesiva to co-promote Zingo within hospitals as well as facilitating contract negotiations with hospitals and group purchasing organizations and will manage U.S. distribution.
For more information about the Sagent, please visit www.sagentpharma.com.
About Strides Arcolab Limited
Strides, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is one of India’s largest exporters of branded generic pharmaceutical products. Strides manufactures pharmaceuticals formulations in various dosage forms, including capsules, tablets, liquid injectables and is one of the world’s top five manufacturers of softgel capsules. Strides also has the only globally dedicated soft gel facility for hormones. In addition, Strides undertakes contract research and the manufacturing of specialty chemicals for various multinational companies. Strides has a major presence in various developing countries such as Africa, Latin America and Asia as well as in developed markets such as the US, Canada and part of Europe. Strides is one of the largest Indian suppliers of institutionally funded aid projects and is an approved supplier to the World Bank, the African Development Bank and UNICEF, amongst others.
Strides has 15 manufacturing plants spread across the US, Brazil, Mexico, Italy, Poland, Singapore and India. This broad manufacturing network facilities partnering with global organizations ranging from UNICEF and WHO- Global Drug Facility to European and American pharmaceutical multinationals and also private labelers and distribution chains. Strides has product registrations in over 37 countries around the world. The Indian manufacturing facilities for the regulated markets are approved by all major regulatory bodies such as MHRA, EU, TGA, MCC and USFDA and GMP accreditations including USFDA. Strides employ approximately 1,700 people across the globe. Strides also have a marketing presence in over 50 countries.
Additional information is available at Strides’ website at www.stridesarco.com.
CONTACT: INVESTORS: Ron Pauli of Sagent, +1-847-908-1604; or Ms. Manjula R
of Strides Arcolab Limited, +91 80 66580110 or +91 80 66580118; or MEDIA:
Geoff Curtis of WeissComm Partners, +1-312-284-4701; or Ms. Harini Iyengar,
+91 80 41133062 or Mr. Manish T, +91 80 41133064, both of Adfactors PR,
Bangalore
Web site: http://www.sagentpharma.com/
http://www.stridesarco.com/
