Beximco Pharmaceuticals Limited will buy from Novartis’ Sandoz a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the US for an undisclosed amount in cash, the company said Wednesday in a press release.
Accorgint to Beximco Pharma’s announcement, its has six US FDA approved products. Four of these products are currently being exported to the US and two products are awaiting regulatory approval. The new acquisition will make Beximco Pharma owner of 14 approved ANDAs in the USA.
Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals, said: “The acquisition of these ANDAs from Sandoz, a global leader in the generics market, significantly strengthens our position in the US, expanding our portfolio to 14 approved products. The acquisition is expected to provide a major boost to our export sales in the future and we look forward to continuing to build our presence in this important strategic market for Beximco Pharma.”