TWi Pharmaceuticals to use its own subsidiary in USA instead of Teva
Generic drugmakers Taiwan-based TWi Pharmaceuticals (4180:Taiwan) and Israeli company Teva Pharmaceutical Industries (NYSE: TEVA) have reached an agreement that will transfer the US sales and distribution rights of TWi's generic versions of Megace ES (megestrol acetate oral suspension, 625mg/ 5ml) and Lidoderm (lidocaine patch, 5%) from Teva to TWi.
TWi will distribute both products through its wholly-owned subsidiary, TWi Pharmaceuticals USA. TWi has assembled a sales and distribution team in the USA and plans to launch several products in the USA under TWi's label this year.
Calvin Chen, president of TWi Pharmaceuticals, said: “We are excited that we are going to sell our products under the TWi label and TWi will be able to enjoy all the profits derived from the products. We are optimistic about the change, which is consistent with the company strategy.”
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