MORRISTOWN, N.J., Dec. 21, 2011 /PRNewswire/ -- Actavis Group, the international generic pharmaceuticals company, today announced that its US subsidiary, Actavis Inc, has entered into a binding letter of intent (LOI) with QRxPharma Limited (ASX: QRX and OTCQX: QRXPY) to commercialize MoxDuo IR in the United States.
Under the terms of the LOI, Actavis gets exclusive rights to launch and market MoxDuo IR, a patented 3:2 ratio fixed dose combination of morphine and oxycodone for the $2.5 billion US acute pain market. The product launch in the US is expected in Q3 2012. Pre-launch preparations will begin immediately.
Claudio Albrecht, CEO Actavis:
"This partnership represents a major step in our strategy to further strengthen our position as one of the major players in the segment of pain management in the US. Furthermore, as this latest development highlights, Actavis is serious in its quest to be ahead of the changing generic pharmaceutical industry. In the future, there will not be such a clear difference between innovator and generic companies. The lines between the two models are blurring. The generics business as we know it today will be gone within the next 10 years."
Actavis intends for MoxDuo IR to be a flagship product in the Company's growing pain management franchise. This transaction builds on Actavis success with the currently marketed Kadian® Extended Release Morphine Sulfate capsules, and a broad array of generic scheduled narcotics offerings. Kadian® has been manufactured by the Company for 15 years and marketed by Actavis since 2008. The Company's analgesic sales force for its branded products will expand significantly and have MoxDuo IR as a primary focus in the US pain market.
Actavis' CEO for the US, Doug Boothe:
"Actavis Inc. is a company with deep experience and solid results in pain management. Building on the success of Kadian®'/>"/>
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