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Strides, Stada conclude development and supply agreement for US
EPP News Bureau - Mumbai
Strides Arcolab Limited, a leading Indian developer and manufacturer of pharmaceuticals
and STADA Pharmaceuticals Inc, the US subsidiary of STADA Arzneimittel AG, announced
signing of a development and supply agreement for a prescription generic drug
product. The product will be developed and manufactured by Strides exclusively
for STADA’s sale in the USA, said a press release.
Currently, Strides has a total of twelve manufacturing plants worldwide and
its Indian plant will be going for USFDA inspection shortly, according to the
release.
Arun Kumar, managing director and Group CEO of Strides stated, ‘‘The
Strides-STADA relationship is a reflection of the Strides partnership philosophy.
Strides intends to become a niche provider of quality generics for the US market.’’
‘‘As a pharmacist-friendly company, we devote a lot of effort exploring
ways to better serve our customers. We feel confident that this agreement will
strengthen our U.S. product portfolio with new products and support our commitment
to become a valuable resource to our customers,” said Paul Evans, acting
president of STADA Pharmaceuticals, Inc.
STADA Pharmaceuticals located in Cranbury, NJ, is the US subsidiary of STADA
Arzneimittel AG, quoted on the Frankfurt Stock Exchange and headquartered in
Bad Vilbel, Germany. STADA manufactures and internationally markets products
in three core segments: generic, branded, and special pharmaceuticals.
Strides listed on the Indian National Stock Exchange, has a global presence
in more than 50 countries. The company has factories in India, Brazil, Mexico
and USA. The Company supplies to a number of geographic locations including
Latin America, UK, South East Asia, Africa, Australia and Russia. The Indian
manufacturing facilities for the regulated markets are approved by all major
regulatory bodies such as MHRA, EU, TGA and MCC.
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