27 Sep 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Amerigen Pharmaceuticals's Chinese subsidiary, Suzhou Amerigen Pharmaceuticals, entered into a marketing and distribution agreement with Sinochem Jiangsu Pharmaceutical regarding Amerigen's generic mecobalamin 0.5mg immediate release tablets.
Under the terms of the agreement, Amerigen will manufacture the product at its US FDA approved and China CFDA certified, finished solid dose facility in Suzhou, China.
Sinochem has been granted exclusive sales and distribution rights for the product in China in exchange for undisclosed payments to Amerigen. The first commercial shipments of the product, which will be sold under Suzhou Amerigen's label, are expected in mid-2014. In addition, the parties will seek any regulatory approvals required for the commercialization of the product in China under the terms of the new collaboration arrangement.
Mr John Lowry, Amerigen's president and CEO, commented that, "This agreement is a continuation of our strategy to bring high quality and locally manufactured generic products to the rapidly growing Chinese market by leveraging Amerigen's FDA and CFDA licensed manufacturing facility in Suzhou. Our collaboration with Sinochem enables expedited market entry through the sales expertise of a highly reputable and leading Chinese pharmaceutical company."
Mr Ziqiang Wu, general manager, Sinochem Pharma, stated that, "Sinochem Pharma, the key subsidiary of Sinochem Group,- one of the largest companies in the China 'Fortune 500', is pleased to cooperate with Amerigen, a renowned pharmaceutical company in China which has passed on-site inspections by the US FDA and China CFDA. We will commit to work together, realize complementary advantages and promote drug products of high quality manufactured by Amerigen in the Chinese market through our joint efforts. The mecobalamin tablet project is just the beginning of the cooperation between our two companies, and we will discuss further business collaborations in the future."