Tuesday, April 23, 2019
Oakrum Pharma, LLC (Oakrum) announced today that it has entered into an agreement with Biophore India Pharmaceuticals Pvt. Ltd. (Biophore) to develop and manufacture two prescription generic pharmaceutical products that are intended to be commercialized in the U.S. under the Oakrum label. It is anticipated that both products will be sold through the specialty distribution market channel. The total market for the products in the U.S. exceeded $150 million in aggregate sales for the 12-month period ending December 31, 2018 according to Bloomberg® data.
Marco Polizzi, CEO of Oakrum, stated, "The partnership with Biophore will provide a vertically integrated solution to our growing product development pipeline. Oakrum's vision to focus on underserved patient populations is in direct alignment with that of Biophore's. Biophore provides unique API and finished dosage form product development capabilities which are expected to further contribute to Oakrum's objective of bringing more affordable specialty and rare disease prescription products to market."
Dr. Jagadeesh Rangisetty, CEO of Biophore, stated, "We are partnering with Oakrum on these products because of our aligned focus to serve niche product markets and because of their focus and commercial expertise within the specialty product marketplace." Biophore has filed over 40 DMF's over the past three years and plans to continue to expand its API and FDF product development portfolio with experienced commercialization partners like Oakrum.