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news.Canadian pharmaceutical firm Intellipharmaceutics International has granted an exclusive license to Teva Pharmaceuticals USA (Teva) to market in the US an extended release drug product candidate.
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Intellipharmaceutics currently has an abbreviated new drug application (ANDA) for the candidate and yet to receive approval from the US Food and Drug Administration (FDA).
Subject to certain conditions, Intellipharmaceutics has agreed to manufacture and supply the product exclusively for Teva.
As part of the deal, Teva has agreed that Intellipharmaceutics will be its sole supplier of the product to be marketed in the US.
Intellipharmaceutics CEO Dr Isa Odidi said: "We are very pleased to establish this manufacturing and supply relationship with Teva.
"Teva has significant market presence both in the US and globally, and this partnership provides further recognition of Intellipharmaceutics’ technology platform. We look forward to manufacturing this product for Teva in the future at our FDA-approved manufacturing facility in Toronto."
Intellipharmaceutics specializes in the research, development and manufacture of new and generic controlled-release and targeted-release oral solid dosage drugs.
Based on the Hypermatrix technology platform, the company has developed several drug delivery systems a pipeline of products (our dexmethylphenidate hydrochloride extended-release capsules for the 15mg and 30mg strengths).
Hypermatrix technology is a multidimensional controlled-release drug delivery platform that can be applied to the efficient development of a range of existing and new pharmaceuticals.