SCHAUMBURG, Ill. and MORRISTOWN, N.J., May 4 /PRNewswire/ -- Sagent Pharmaceuticals, Inc., a privately held specialty pharmaceutical company, and Actavis Inc., a leading global generic pharmaceutical manufacturer, have launched an exclusive collaboration to develop and market a select group of specialty injectable medications for the United States.
Under the agreement, Actavis will develop, obtain U.S. Food and Drug Administration approval, and supply the products, which Sagent will market in the United States. Financial terms of the agreement have not been disclosed.
"Actavis' impressive injectable pipeline, substantial development and supply capabilities and excellent record of execution make Actavis an outstanding partner for Sagent," said Jeffrey M. Yordon, Sagent's chief executive officer, founder and chairman of the board. "This collaboration complements Sagent's strategy by quickly adding products to our marketed portfolio and we look forward to working with Actavis to expand our collective portfolio."
Doug Boothe, chief executive officer of Actavis Inc., said the strategic collaboration with Sagent will enable consumers in the United States to benefit from the company's global expertise in developing and manufacturing specialty injectable products.
"By combining our injectable pipeline with Sagent's and partnering with their sales and marketing team, we have increased our potential to serve the U.S. market for these valuable products beyond what either of our companies could have achieved independently," Boothe said. Headquartered in Morristown, N.J., Actavis Inc. is the U.S. subsidiary of Iceland-based Actavis Group.
About Sagent Pharmaceuticals
Sagent Pharmaceuticals is a privately held specialty pharmaceutical company focused on developing, manufacturing, sourcing and marketing pharmaceutical products, with a specific emphasis on injectable products. Sagent has created a unique, global network of resources, comprised of rapid development capabilities, sophisticated manufacturing and innovative drug-delivery technologies, quickly yielding an extensive portfolio of pharmaceutical products that fulfills the evolving needs of patients.
To Discover Injectables Excellence™ and learn more about Sagent, please visit www.SagentPharma.com.
About Actavis Inc.
Actavis Inc. is the U.S. subsidiary of Actavis Group hf. Approximately one quarter of Actavis' sales are generated in North America, Actavis' single largest market. Based in Morristown, NJ, Actavis has U.S. manufacturing facilities in Elizabeth, NJ; Little Falls, NJ; Totowa, NJ; and Lincolnton, NC. Actavis also has research and development facilities in Owings Mills, MD and Sunrise, FL; and a packaging facility in Totowa, NJ. Please visit www.actavis.us for more information.
|SOURCE Sagent Pharmaceuticals, Inc.; Actavis Inc.|
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