On January 4, 2023 Amneal Pharmaceuticals, Inc. (NYSE: AMRX) ("Amneal" or the "Company") reported that it has signed a long-term license agreement with Orion Corporation (OMXH: ORNBV & ORNAV) to commercialize a number of Amneal’s complex generic products (Press release, Amneal Pharmaceuticals, JAN 4, 2023, View Source [SID1234625847]).
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Under the partnership agreement, Orion is Amneal’s exclusive partner to bring its portfolio of complex generic programs to most parts of Europe as well as in Australia and New Zealand. The initial portfolio will include a mix of generic products commercially available in the U.S. today, as well as select high-value pipeline products currently under development. Initial products will be registered throughout Europe, Australia and New Zealand starting in 2023, with launches expected over the coming years.
Chirag Patel and Chintu Patel, Amneal Co-Chief Executive Officers, stated, "International expansion is a key strategic priority for Amneal and today’s announcement demonstrates our commitment to execute on that. As a company, we are extremely focused on finding partners who share our same values, ethics and ambitions, and we truly could not have found a better European partner than Orion. We are excited to bring our medicines to the second largest global pharmaceutical market, and we hope that today is only the beginning of our work together."
Liisa Hurme, President & CEO of Orion, stated, "We are delighted to announce this collaboration with Amneal, and we look forward to working together to bring these treatments to patients. This agreement expands our footprint in the European generics market as well as in Asia-Pacific region. In addition, it supports our growth strategy and is yet another fine example how Orion grows its business through high-quality strategic partnerships."
The financial terms of the agreement were not disclosed.