Cypress Pharmaceutical, Inc. and Standard Chem. & Pharm. Co., Ltd. Enter into Development and Marketing Agreement
Cypress Pharmaceutical, Inc., today announced that it has entered into a multiple generic product development and marketing agreement with Standard Chem. & Pharm. Co., Ltd., (TAIWAN:1720), a global pharmaceutical company.
The agreement encompasses the development and US commercialization of an estimated 3.4 billion dollars in product market capitalization.
Max Draughn, Cypress Pharmaceutical’s CEO said, “We are very pleased Standard has chosen to partner with us and utilize Cypress’ strong US marketing position. As a seasoned global pharmaceutical company with significant experience in development and manufacturing, Standard is a complementary and compelling partner with Cypress.”
Under the terms of the agreement, Standard Chem. & Pharm. Co., Ltd., has the exclusive development and manufacturing rights and Cypress Pharmaceutical, Inc., has exclusive US marketing rights of the generic drug products. Other financial terms of the agreement have not been disclosed.
Source : www.businesswire.com
The agreement encompasses the development and US commercialization of an estimated 3.4 billion dollars in product market capitalization.
Max Draughn, Cypress Pharmaceutical’s CEO said, “We are very pleased Standard has chosen to partner with us and utilize Cypress’ strong US marketing position. As a seasoned global pharmaceutical company with significant experience in development and manufacturing, Standard is a complementary and compelling partner with Cypress.”
Under the terms of the agreement, Standard Chem. & Pharm. Co., Ltd., has the exclusive development and manufacturing rights and Cypress Pharmaceutical, Inc., has exclusive US marketing rights of the generic drug products. Other financial terms of the agreement have not been disclosed.
Source : www.businesswire.com
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