Heritage Pharma Labs Inc. today announced that they have acquired a portfolio of 23 abbreviated new drug applications, covering 17 product families, all of which have been previously approved by the U.S. Food and Drug Administration. Financial terms were not disclosed.
Of the newly acquired products, Heritage and its parent company, Emcure Pharmaceuticals Ltd. had previously manufactured most of these products under a supply agreement with a third party, and Heritage plans to launch all of these products into the U.S. market under a Heritage label with immediate availability starting in Q2 2019 through its affiliate, Heritage Pharmaceuticals Inc.
“The addition of these new products to our growing portfolio is another step forward in our efforts to strengthen our U.S. business and operations,” stated William S. Marth, the Global President and CEO of the Heritage Group, Regulated Markets. Mr. Marth added that “we remain focused on delivering high-quality products to our customers and patients. Our previous experience producing the vast majority of these products will enable us to quickly resume manufacturing and begin production immediately.”
Date: February 11, 2019
Source: Business Journals