Bharat Parenterals' Subsidiary Innoxel Lifesciences Secures Rs 31 Cr Deal for 505(b) 2 Products
Bharat Parenterals' subsidiary, Innoxel Lifesciences, has secured a deal to out license seven complex molecules, including two 505(b) 2 products, to two global marketing companies. The agreement includes cumulative milestone payments of Rs 31 Cr over three years, and the primary countries for marketing are the United States and some European countries. Innoxel Lifesciences has developed 22 complex generic molecules and has 16 more in the pipeline. The company operates a state-of-the-art manufacturing facility in Vadodara, Gujarat, and plans to manufacture drugs on contract manufacturing basis and receive profit share income once approved and commercialised. Bharat Parenterals, the parent company, is headquartered in Vadodara and is a leading player in the injectables dosage form segment.
Key Highlights
- Innoxel Lifesciences secures Rs 31 Cr deal for out licensing seven complex molecules and two 505(b) 2 products.
- This deal includes cumulative milestone payments of Rs 31 Cr over the next three years.
- The primary markets for these products are the United States and some European countries.
- Bharat Parenterals' subsidiary has developed 22 complex generic molecules with 16 more in the pipeline.
- The state-of-the-art manufacturing facility in Vadodara will manufacture drugs upon approval and commercialisation