BUFFALO GROVE, Ill. Akorn and Cipla on Tuesday announced the signing of an exclusive manufacturing and supply agreement for an inhalation drug.
Under terms of the 10-year deal, Buffalo Grove-based Akorn will gain FDA approval, then market and distribute the drug, both manufactured and developed by the Mumbai, India-based pharmaceutical Cipla.
The estimated U.S. market size for the drug product is approximately $200 million.
“This development agreement represents our first drug product targeted for inhalation therapy,” said Arthur Przybyl, Akorn’s president and chief executive officer. “Our business relationship with Cipla continues to expand. Including this transaction, we now have four drug products under development with Cipla. We expect this drug to eventually be an excellent addition to our niche specialty pharmaceutical portfolio.”