Lannett to market 2 generics
Lannett announced that it has expanded its agreement with Sunshine Lake, the U.S. subsidiary of the HEC Pharm Group of China, to be the exclusive distributor in the U.S. of a generic of AbbVie’s Biaxin XL (clarithromycin) extended-release tablets 500 mg and Novartis’ Comtan (entacapone) immediate-release tablets 200 mg. The products have previously been approved by the Food and Drug Administration.
Lannett has commenced marketing clarithromycin and expects to market entacapone in early calendar year 2019. Financial terms were not disclosed.
"We continue to add market-ready products to our offering, including clarithromycin, where there are few suppliers," said Lannett CEO Tim Crew. "HEC is an important strategic alliance partner, and we are thrilled to expand our agreement to now include clarithromycin and entacapone. These products advance our near-term objective of increasing our revenues, further strengthening our business."
Clarithromycin ER tablets 500 mg and entacapone IR tablets 200 mg have a market value of about $8 million and $24 million respectively for the 12 months ended September 2018, according to IQVIA data, though the company said generic market values are expected to be lower.
Lannett has commenced marketing clarithromycin and expects to market entacapone in early calendar year 2019. Financial terms were not disclosed.
"We continue to add market-ready products to our offering, including clarithromycin, where there are few suppliers," said Lannett CEO Tim Crew. "HEC is an important strategic alliance partner, and we are thrilled to expand our agreement to now include clarithromycin and entacapone. These products advance our near-term objective of increasing our revenues, further strengthening our business."
Clarithromycin ER tablets 500 mg and entacapone IR tablets 200 mg have a market value of about $8 million and $24 million respectively for the 12 months ended September 2018, according to IQVIA data, though the company said generic market values are expected to be lower.