Wednesday, February 20, 2019
Aucta Pharmaceuticals, Inc. ( Aucta ) announced today that it has entered into an agreement with Oakrum Pharma, LLC ( Oakrum ) to develop and produce four A prescription generic product intended to be commercialized in the United States under the Oakrum trademark. These products are expected to serve the retail market, including oral and topical medications. According to data provided by IQVIA, its potential market totaled more than $300 million in the 12 months ended December 31, 2018.
Aucta CEO Li Shoufeng said: "We chose Oakrum as the exclusive distributor of these products in the United States because the Oakrum team will bring commercial expertise to the partnership. We will continue to expand our product development portfolio and cooperation. Partnerships to help the business grow and continue to bring high quality, affordable prescription drugs to market."
Oakrum CEO Marco Polizzi said: “We are pleased to be working with Auctta for the first time in external product development. Aucta's unique product development capabilities and scientific expertise have enabled Oakrum to reach products that are difficult to copy, and these products will have Helping to achieve our goal of bringing more affordable specialty and rare disease prescription products to market. These products are part of our growing range of unique and premium low-cost pharmaceuticals."