By Sohini Das
Ahmedabad based global pharmaceutical player Cadila Healthcare (Zydus Cadila) is planning to launch more products from the pipeline of Nesher Pharma next year after launching two products already in US markets this year. Zydus' US subsidiary had acquired Nesher Pharma in June 2011.
The acquisition of Nesher Pharma helped Zydus to gain access to the controlled release medications market in the US, which is valued roughly at $ 7 billion (Rs 37492 crore). Nesher has eight existing filings and five products under development.
Sources in the company indicated that Zydus planned to launch more products from the Nesher pipeline in the US next year. "We have launched two products in the US market this year itself, and as of now, no more launches are planned for this year", said the source.
The US drug regulator revoked the warning letter issued to Zydus' manufacturing facility at Moraiya in mid July this year. The company plans to manufacture and market injectables and nasal products made at this facility in the US.
Cadila has been focusing on launching niche products in the US in the longer run. It has made filings in the transdermals and injectables space over the last few years and is targeting areas like oncology and respiratory as well. The acquisition therefore fits in well with the company’s philosophy of focusing on differentiated generics.
Meanwhile, K V Pharmaceutical has requested that a New York bankruptcy judge approve a $7.5 million (over Rs 40 crore) settlement between several of its subsidiaries and Zydus Pharmaceuticals Inc, Cadila Healthcare's US subsidiary, and Nesher Pharmaceuticals. The settlement would resolve claims related to an asset purchase agreement. Nesher Pharma was the generic arm of KV Pharmaceutical.
Confirming the development, the company source claimed that as per the agreement at the closing of the transaction, the buyer will deposit $7.5 million of the purchase price in an escrow arrangement for post-closing indemnification purposes. Zydus had purchased Nesher Pharma for a $60 million (over Rs 320 crore).