Sandoz in deal to market authorized generic of Shire's Adderall XR in USA

3 December 2013

UK drugmaker Shire (LSE: SHP) says that its subsidiary Shire US Inc has entered into an agreement to supply an authorized generic version of its product Adderall XR (mixed amphetamine salts) with Sandoz, the generics unit of Swiss drug giant Novartis (NOVN: VX), which will market an authorized generic version of the attention-deficit hyperactivity disorder (ADHD) drug beginning July 1, 2016.

Shire shares fell 1.9% to £27.19 by midday on Tuesday, valuing the company at $15.08 billion ($24.7 billion).

From the December 1, 2013 effective date of the agreement through the end of its five-year term, Sandoz has agreed to exclusively sell the authorized generic version of Adderall XR supplied by Shire.

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