Buffalo, NY and Hong Kong – Athenex Pharmaceutical Division and Beijing Sciecure Pharmaceutical Co., Ltd., a specialty pharmaceutical company, today announced a binding agreement to launch and market 5 pharmaceutical products, all injectable, in the North America territory. These products are therapeutically relevant to the Athenex proprietary pipeline of products under development. The products will be launched in the future by Athenex Pharmaceutical Division.
Sciecure, a mid-sized company with many of its resources located in China, was established in 2007 and is headquartered in Beijing, China. It currently employs over 400 employees with offices in China, the USA, Canada and the U.K. Sciecure has Research & Development, manufacturing facilities with oral solid dosage forms, small volume parenteral, lyophilized powder for injection, ampoules, large volume parenteral and Active Pharmaceutical Ingredient (API), as well as marketing networks throughout China. The company has already received FDA acceptances on certain of their oral product filings which Athenex has the first right of refusal to market in the future.
Mr. Jeffrey Yordon, President of Athenex Pharmaceutical Division, stated “We are excited to have this opportunity to partner with Sciecure Pharma. Their extensive pipeline and development capability will serve both companies well in the near future. The combination of Athenex’s sales, marketing, regulatory and quality infrastructure, combined with Sciecure’s product development expertise and manufacturing expertise, make for a formidable combination of skill sets. The Sciecure Pharma partnership is another example of the growing number of partnerships we are executing to supply high value products to our markets. We are pleased to be working with an organization of Sciecure Pharma’s caliber. The emphasis on product selection with Sciecure Pharma, and other future partners in oncology, will complement our robust proprietary pipeline of oral oncolytics. Opportunities like this enable Athenex to add to our infrastructure of our own sales, marketing and distribution systems prior to the launch of our first proprietary oncology product.”
Mr. Shaohui Lin, Board Director of Sciecure, stated “Sciecure is very pleased to be a partner of Athenex. We have an extensive pipeline of both injectable and oral products that we will be working with Athenex in the future in North America. These pipeline products will be augmented by the fact that Sciecure owns its own API facility and we are back-integrated in many of our future products. This has a profound impact on the quality and the cost of the finished product.”
The specialty products being launched in the near term are expected to create a revenue and margin contribution to help subsidize the ongoing clinical trials and research and development projects for the Athenex proprietary pipeline. To further the synergies, Athenex will be working closely with its own API division, Polymed, to back-integrate into the Athenex Pharmaceutical Division’s pipeline of products.
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