The Mumbai based Olive Healthcare has signed a supply agreement with the Lannett Company Inc. of USA to supply two pharmaceutical products.
The companies have not disclosed details of the specific compounds involved in the supply but have said that sales of the products exceeded $130 million in 2005, for Lannett's distribution and sale in the US market.
Lannett, a US based generic drug company, will provide assistance with assembling and submitting the abbreviated new drug applications (ANDAs) and gaining FDA approval for Olive Healthcare's manufacturing plant.
"We are pleased to collaborate with Olive Healthcare on this project," said Arthur Bedrosian, Lannett's president and chief executive officer.
Olive Healthcare's product manufacturing plant was designed to meet the stringent Australian TGA and UK MCA requirements and has received GMP certification by the World Health Organization (WHO). Olive's state-of-the-art plant incorporates cutting edge technological advances in pharmaceutical manufacturing.
Nutraceuticals