Hospira and Celltrion to develop and market biogenerics
Hospira, a US supplier of generic injectable pharmaceuticals, has signed a distribution agreement with South Korea-based Celltrion and Celltrion Healthcare.
Hospira, a US supplier of generic injectable pharmaceuticals, has signed a distribution agreement with South Korea-based Celltrion and Celltrion Healthcare.
Financial details were not revealed but Hospira, of Lake Forest, Illinois, said it includes a future distribution agreement for eight biogeneric products currently being developed by Celltrion.
Under the agreement the two companies will collaborate on manufacturing and supply market them under separate brand names once they have received regulatory approval.
"This partnership gives Hospira access to Celltrion's large biogenerics portfolio, and is an excellent example of Hospira's commitment to organic and inorganic growth," said Christopher Begley, chief executive of Hospira.
"We believe this partnership will benefit both companies by combining Hospira's broad outreach with Celltrion's advanced biologic manufacturing capabilities," added Jung-Sin Seo, chief executive of Celltrion Healthcare and Celltrion.
