Laurus Labs Transfers the Ownership of Its HBV ANDA to CASI Pharmaceuticals
Deepthi | Myequity news | Date : 23-10-2018 19:45:00 IST
Laurus Labs announces the transfer of the U.S. FDA-approved Abbreviated New Drug Application (ANDA) of Tenofovir Disoproxil Fumarate (TDF) to CASI Pharmaceuticals, Inc., a biopharmaceutical company dedicated to the development and delivery of high quality, cost-effective pharmaceutical products and innovative therapeutics to China and other markets. The TDF is prescribed for the treatment of Hepatitis B virus (HBV). As part of the transaction, the Company, in exchange of the transfer of ANDA, would receive certain upfront and milestone payments in different phases. Both parties are in discussions to allow Laurus to continue to manufacture and market TDF for the US market and to potentially supply API for the China market.
Dr. Satyanarayana Chava, Founder and CEO, Laurus Labs, said, “The transfer of TDF ANDA for its use in China enhances our strategic focus to leverage our development and manufacturing capabilities in the markets where we have little presence. Partnering with CASI Pharmaceuticals, in particular, would enable Laurus Labs to monetize its asset in China while building a robust pipeline and commercialize quality drugs in other markets. Laurus Labs is looking forward to venture into the new geographies where it has no footprint and would offer its manufacturing capabilities through strategic ventures and partnerships”. About CASI Pharmaceuticals, Inc.:
CASI Pharmaceuticals is a U.S.-based biopharmaceutical company dedicated to the development and delivery of high quality, cost-effective pharmaceutical products and innovative therapeutics to patients in the U.S., China and throughout the world.
About Laurus Labs Limited:
Laurus Labs is a leading research & development driven and fully integrated pharmaceutical company in India. The Company has grown consistently to become one of the leading manufacturers of Active Pharmaceutical Ingredients (APIs) for anti-retroviral (ARV) and Hepatitis C. Laurus also manufactures APIs in Oncology and other therapeutic areas.