Amerigen generics deal with Shanghai Fosun Omni

New Jersey, USA-based Amerigen Pharmaceuticals has entered into a collaboration agreement with China’s Shanghai Fosun Omni Pharmaceutical regarding the development of generic, oral controlled-release products.

Under the terms of the deal, Fosun Omni will use its formulation expertise to develop products for Amerigen to commercialize in the USA and other territories. On signing the accord, Fosun Omni received an up-front fee with respect to the first product and is eligible for additional product-specific development milestones and royalties on any commercialized products. Further financial terms were not disclosed.

"This collaboration allows Amerigen to add further momentum to its efforts to build a portfolio of differentiated, high value generic pharmaceuticals," said Jonathan Embleton, chief business officer for Amerigen. "Omni's internationally experienced scientific team will develop complex oral controlled release formulations for scale-up and commercial manufacture at Amerigen's Food and Drug Administration-approved facility in Suzhou, which is only a two hour drive from Fosun Omni's operating base in Shanghai's Zhangjiang Hi-Tech Park,” he added.