AMRI, Saneca Pharmaceuticals collaborate to develop and market opium-derived APIs

AMRI (NASDAQ: AMRI) and Saneca Pharmaceuticals, a.s. today announced a strategic collaboration focused on the development, manufacture and marketing of a portfolio of opium-derived active pharmaceutical ingredients, ("APIs"). The collaboration combines Saneca's strength in extracting opiates from plant biomass and their expertise in developing and manufacturing controlled substance APIs with AMRI's U.S. assets and their ability to tech transfer processes into these facilities. The collaboration will also capitalize on AMRI's sales and marketing strength in the U.S. market.

Under terms of the collaboration, Saneca will supply intermediates, and where appropriate, process transfer technology to enable AMRI to develop over two dozen APIs. Based on customer demand, AMRI will prepare the U.S. regulatory filings, and following FDA approval, will manufacture the APIs at its U.S. DEA approved facilities. The companies will share revenue of any marketed APIs resulting from the collaboration. Additional details of the agreement have not been disclosed.

"We very pleased to be entering into this strategic collaboration with Saneca," said George Svokos, Senior Vice President and Chief Commercial Officer, AMRI. "This alliance allows us to not only expand our portfolio of controlled substance APIs, but it also allows us to be fully integrated with a competitive cost structure."

"Collaborating with AMRI will allow us to mutually benefit from our strengths and capabilities in developing and manufacturing controlled substance APIs, further accelerating and strengthening our ability to expand into new markets with existing and new opium-derived products," said Anthony Sheehan, Group CEO, Saneca. "Coupled with its robust operating procedures and strong quality management systems, the key to AMRI's success is its unique ability to implement and validate a diverse range of technical processes at their U.S. facilities. This will ultimately provide us with the ability to manufacture and market opiates in the U.S. market in compliance with cGMP regulations."

SOURCE AMRI