Akorn-Strides, LLC has announced the first commercial product launch from their joint venture, Rifampin for Injection USP, 600 mg/vial. Rifampin is used in the treatment of all forms of tuberculosis in conjunction with Isoniazid and Ethambutol. To date, the company has filed for 18 ANDAs and received nine ANDA approvals. Five additional products are under development and expected to be filed in the next 12 months. The Joint Venture expects to generate immediate revenue from this product launch and from several other new product launches in the second half of 2008. The approximate annual IMS market value of the nine approved products is $192 million. Akorn-Strides, LLC is a joint venture that was formed in 2004 by Akorn, Inc. and Strides Arcolab Limited. The primary mission for the joint venture is to develop liquid, lyophilized and dry powder formulations of generic injectable products targeting several therapeutic markets with a major focus on anti-infectives, analgesics, anti-emetics and CNS medicines. The manufacturing facility which will support this and other products of the joint venture is owned by Strides Arcolab and is located in Bangalore, India. Arthur S. Przybyl, Akorn’s President and Chief Executive Officer and Member Manager of the joint venture stated, “Congratulations to the Strides and Akorn Team members that have engineered the joint venture from inception to commercialization. We look forward to the joint venture contributing positive operating results for both Akorn and Strides Arcolab in the near future.” Ravi Seth, CEO International Operations, Strides Arcolab Ltd stated, “The commercial launch of the first product is an important milestone for the joint venture and an endorsement of Strides’ philosophy of creating value through partnerships. This also reflects Strides commitment to bring together people, skills and capabilities from around the world to make available affordable pharmaceutical products.”
