PITTSBURGH, June 10 /PRNewswire-FirstCall/ -- Mylan Inc. (NYSE: MYL) announced today that it has signed a license and supply agreement with NATCO Pharma Ltd. (NATCO) for NATCO's glatiramer acetate pre-filled syringes, a generic version of Teva's Copaxone(R), which is used to treat multiple sclerosis. The agreement grants Mylan exclusive distribution rights in the United States and all major markets in Europe, Australia, New Zealand, Japan and Canada and includes an option to expand into additional territories.
NATCO has commercialized successfully its glatiramer acetate product in India and the Ukraine. Teva has reported that worldwide sales of Copaxone were more than $1.7 billion in 2007.
"We are extremely pleased to be collaborating with NATCO to market and distribute this critically important product virtually worldwide," said Robert J. Coury, Mylan vice chairman and CEO. "We've worked closely with NATCO over the past several months, and we're excited to have completed this agreement. During that time, we have been impressed with the company's long-term vision and outstanding technical capabilities, which are clearly reflected in NATCO's ability to develop a complex product such as generic Copaxone. We plan to work closely with all relevant regulatory agencies in the United States and internationally -- and leverage Mylan's considerable global expertise in regulatory applications -- to bring the therapeutic and economic benefits of this product to the widest possible patient-base."
"We had spoken with several potential partners since we launched
glatiramer as a generic in India last year," said NATCO Chairman and
Managing Director Chowadary V. Nannapaneni. "After an extensive review, we
believe that no company is be
|SOURCE Mylan Inc.|
Copyright©2008 PR Newswire.
All rights reserved