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news.Penwest Pharmaceuticals has entered into a drug development and commersialisation agreement with Alvogen, under which both the parties have agreed to identify and select up to five compounds for generic development.
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Penwest’s TIMERx technology may be used for each compound selected. Penwest is expected to formulate the agreed-upon compounds and receive milestone and royalty payments that are linked to the development of each compound.
Reportedly, Alvogen, the US-based pharmaceutical manufacturer of complex generic products for US, EU and other international markets, is expected to be responsible for manufacturing, clinical trials and regulatory filings for each of the formulations, as well as commercialisation of the products worldwide.
Jennifer Good, president and CEO of Penwest, said: “This multi-drug, multi-national agreement allows Penwest to leverage its drug delivery technology for the formulation of generic drugs, an important segment of the market for extended release technology.
“TIMERx technology had its start in generics with the development of the first generic to Pfizer’s Procardia XL product, which was formulated using the Alza Oros technology. We are pleased to be leveraging this valuable advantage of TIMERx in the development of difficult-to-formulate generic products with the expertise of the team from Alvogen.”