Vensun Pharmaceuticals, Inc. Enters Into Manufacturing, Supply and Distribution Agreement with ScieGen Pharmaceuticals, Inc.
YARDLEY, Pa.--(BUSINESS WIRE)--Vensun Pharmaceuticals, Inc., a privately held generic pharmaceutical company, announced today that it has entered into an agreement with ScieGen Pharmaceuticals, Inc. to commercialize 23 prescription generic products. Under the terms of this agreement, once the ANDAs receive final FDA approval, the products will be manufactured and supplied by ScieGen and marketed and distributed exclusively by Vensun. Two of these products have already received final approval with the first product launch under way, and several other product launches expected by year end. According to IMS, the combined annual U.S. sales for these 23 products are approximately $6 billion.
“We are very excited about this opportunity and appreciate the confidence ScieGen has shown as we embark on this collaborative agreement. With the combination of our internal product development program and pipeline of ScieGen products, we will be offering a broad and attractive portfolio of generic drugs to our customers.”
Dr. Pailla Malla Reddy, Chairman and CEO of ScieGen stated, “We are very pleased to enter into this relationship with Vensun and look forward to further expanding our alliance. Vensun has built an impressive infrastructure to support sales operations and we are confident in their ability to market this product portfolio.”
Mr. Hem Pandya, President and CEO of Vensun commented, "We are very excited about this opportunity and appreciate the confidence ScieGen has shown as we embark on this collaborative agreement. With the combination of our internal product development program and pipeline of ScieGen products, we will be offering a broad and attractive portfolio of generic drugs to our customers.”
About Vensun Pharmaceuticals, Inc.
Vensun Pharmaceuticals, Inc., based in Yardley, Pennsylvania, is a rapidly emerging generic pharmaceutical company, established in July 2011. The company is developing a unique portfolio of complex generic prescription products in various dosage forms covering a broad range of therapeutic categories. Vensun is developing products in collaboration with a number of strategic partners in the US and overseas and has filed 20 ANDAs to date and has 15 products in active development. In addition to this proprietary product development program, Vensun now has in-licensed 23 products to expand and diversify the pipeline.
For more information regarding Vensun Pharmaceuticals, Inc. please visit www.vensunrx.com.
About ScieGen Pharmaceuticals, Inc.
ScieGen Pharmaceuticals, Inc. is a subsidiary of Bactolac Pharmaceuticals Inc - one of the most successful nutritional supplement companies in the world. ScieGen was founded by Dr. Pailla Malla Reddy, President and CEO, and incorporated in 2010. The Company’s state of the art, 117,000 sq. foot facilities are located in Long Island, NY and have been operational since Sept. 2010. ScieGen has the capability of manufacturing solid oral dosage forms including immediate release and extended release tablets and capsules.