Akorn will hold exclusive rights for the marketing and distribution of the three Products.
Akorn signed a definitive agreement with Azad Pharma related to the development and supply of three candidates for the treatment of glaucoma. The companies report that the products, Latanoprost, Bimatoprost, and Travoprost, have a total U.S. market-size of $870 million, according to 2006 IMS data.
The drug products are expected to be manufactured by Taejoon Pharmaceutical. Taejoon and Azad will complete the regulatory dossiers and upon ANDA approval, will manufacture and supply the products to Akorn in a blow-fill seal container closure system.
Akorn will be responsible for the regulatory filings of the ANDA’s and will own them. As part of this Agreement, Akorn will have exclusive marketing and distribution rights for the three drug products in the U.S. and Canada.