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Breckenridge Pharmaceutical signs Letter of Intent with Welding GmbH & Co & SK Chemicals

BOCA RATON, Fla., June 10, 2013 /PRNewswire/ -- Breckenridge announced today that it has entered into a Development Agreement with Welding GmbH & Co and SK Chemicals to develop and market an ANDA with U.S. branded sales of approximately $500M. Under the terms of this agreement, Welding and SK will develop and manufacture the product, utilizing SK's advanced drug delivery system, for Breckenridge Pharmaceutical, Inc., who will have exclusive marketing and distribution rights in the U.S. This agreement further supports Breckenridge's interest in leveraging drug delivery technologies to diversify its product development pipeline. 

About Breckenridge:
Breckenridge is a privately-held pharmaceutical marketing, research and development company founded in 1983 that markets a broad range of generic prescription products and Medical Foods in many therapeutic categories. The Breckenridge label is recognized by Wholesalers, Distributors, Chains, and Managed Care Accounts, as well as Retail Pharmacies nationwide. The company markets over 60 products in a variety of dosage forms including: Tablets, Capsules, Soft Gel Capsules, and Liquids, and Powders.

About Welding:
Welding is a privately owned company, headquartered in Hamburg, Germany. Founded in 1955, with subsidiaries in Frankfurt and Lyon, France, Welding has an ever increasing global presence. Core competences are the development, registration, licensing, and supply of generic finished products. Welding tackles the challenges of the global pharmaceutical market with fully compliant and complete generic development solutions for the generic industry, including but not limited to API sourcing, development of API syntheses, Intellectual Property vetting and review, regulatory affairs, launch and supply chain management. In addition Welding understands the important role and responsibility that we have as a premier partner in global marketing, sourcing and distribution of active pharmaceutical ingredients.

About SK Chemicals:
Since its formation in 1969, SK Chemicals has grown into one of the major healthcare and chemical company in Korea via continuous series of innovations. Now, the company is trying to leap forward by reorganizing its corporate structure into Green Chemicals and Life Science, under the mandate, 'Improve human health and project the global environment.'

When it comes to Life Science Business, SK Chemicals are deploying a portfolio of diverse products in push for value-oriented development activities. The accumulated key competency through consistent R&D investment to expand into the global marketplaces enables SK Chemicals to succeed in a series of out-licensing deals and achievements in a patentable PPI oral tablet, a reformulated anticancer injectable and human recombinant factor followed by the marketing authorizations of a few products in Europe and the States.

SOURCE Breckenridge
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