PITTSBURGH, June 10 /PRNewswire-FirstCall/ -- Mylan Inc. (NYSE: MYL) announced today that it has signed a license and supply agreement with NATCO Pharma Ltd. (NATCO) for NATCO’s glatiramer acetate pre-filled syringes, a generic version of Teva’s Copaxone(R), which is used to treat multiple sclerosis. The agreement grants Mylan exclusive distribution rights in the United States and all major markets in Europe, Australia, New Zealand, Japan and Canada and includes an option to expand into additional territories.
NATCO has commercialized successfully its glatiramer acetate product in India and the Ukraine. Teva has reported that worldwide sales of Copaxone were more than $1.7 billion in 2007.
"We are extremely pleased to be collaborating with NATCO to market and distribute this critically important product virtually worldwide," said Robert J. Coury, Mylan vice chairman and CEO. "We’ve worked closely with NATCO over the past several months, and we’re excited to have completed this agreement. During that time, we have been impressed with the company’s long-term vision and outstanding technical capabilities, which are clearly reflected in NATCO’s ability to develop a complex product such as generic Copaxone. We plan to work closely with all relevant regulatory agencies in the United States and internationally -- and leverage Mylan’s considerable global expertise in regulatory applications -- to bring the therapeutic and economic benefits of this product to the widest possible patient-base."
"We had spoken with several potential partners since we launched glatiramer as a generic in India last year," said NATCO Chairman and Managing Director Chowadary V. Nannapaneni. "After an extensive review, we believe that no company is better positioned than Mylan to help us unlock the extraordinary value of this product in the United States and around the world. We are truly excited about our collaboration."
Mylan Inc., with a presence in more than 90 countries, ranks among the leading diversified generic and specialty pharmaceutical companies in the world. The company maintains one of the industry’s broadest -- and highest quality -- product portfolios, supported by a robust product pipeline; owns a controlling interest in the world’s second largest active pharmaceutical ingredient manufacturer; and operates a specialty business focused on respiratory and allergy therapies
NATCO Pharma Limited, based in Hyderabad, India, is ranked among the fastest growing pharmaceutical companies in the country. It manufactures branded and generic dosage forms, bulk actives and intermediates for Indian and international markets. During its 24-year history, NATCO has gained a reputation for innovative product development, high-quality manufacturing capabilities and strong financial growth.