India-based drug firm Strides Arcolab announced on 3 October 2011 that it had received FDA approval to market injectable clindamycin, used in the treatment of bacterial infections, in the American market.
Injectable generics at Strides Arcolab
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Posted 28/10/2011
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The company sparked headlines in September 2011 when it intimated it would be interested in selling off a business unit that makes generic pills and capsules. Strides Arcolab wants to focus on growing its specialty drugs business, Agila Specialties, which makes injectable products. Most of the company’s profit comes from this area of its production.
The FDA approval is a stepping stone towards selling injectable generic drugs worth US$4 billion to US$5 billion, according to Strides Arcolab Executive Vice Chairman and Group CEO Dr Arun Kumar. The company has a promising contract with Pfizer. The two companies agreed in 2010 to collaborate on the sale of 40 off-patent injectable drugs, mostly cancer medications. Strides is to make the drugs and Pfizer to market them in the US. The deal was later expanded to cover other areas, including Japan and Europe. Strides also has a collaboration deal with GlaxoSmithKline, as well as with other, smaller companies.
Source: Strides Arcolab
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