Heritage and Ipca Form Generic Drug Alliance

Under a new agreement announced this week, Ipca Laboratories will develop and submit applications to the FDA for certain generic products, while Heritage Pharmaceuticals will retain sales and marketing rights. The companies added that they would share net profits from the sales.

“These types of agreements enable Heritage to leverage our business model of strategic outsourcing to obtain a ‘virtually vertical’ supply chain of quality generic products as we continue to expand our product offerings,” Heritage President and CEO Jeffrey Glazer said.

Ipca, based in India, is also involved in a strategic alliance with Ranbaxy Pharmaceuticals. The company announced earlier this month that the FDA has approved the fifth product developed under the alliance, generic Glucophage (metformin HCl).