The company has entered into an agreement with Sandoz Canada, pursuant to which the latter will produce, use, sell, market and distribute Olanzapine injection in Canada.
InnoPharma president and chief executive officer Navneet Puri said the announcement is a major milestone for InnoPharma, as it represents the first international launch of one of the company’s products.
"As such, it demonstrates our ability to work successfully with regulatory agencies outside the United States, thereby extending our footprint and opening up additional revenue opportunities," Puri said.
"We are pleased to work with our collaborator, Sandoz Canada, on the launch of this important generic drug."
On 16 July 2014, Pfizer announced that it has entered into an agreement to acquire InnoPharma. The transaction is subject to US regulatory approval, and is scheduled to complete during the third quarter.
InnoPharma is mainly focused on developing complex generic and new products in injectable and ophthalmic dosage forms and it has a broad portfolio of products under development, with formulations including solutions, lyophilized, suspensions, emulsions, liposomes, micelles and lipid complexes.
Zyprexa is a registered trademark of US-based global pharmaceutical firm Eli Lilly and Company.