�Akorn-Strides, LLC announced the approval of two ANDAs for Dexamethasone Sodium Phosphate Injection USP, 4 mg (base)/mL in 1mL, 5 mL, and 30 mL vials, and Dexamethasone Sodium Phosphate Injection USP, 10 mg (base)/mL in 10 mL vials. Akorn-Strides, LLC is a Joint Venture that was formed in 2005 by Akorn, Inc. (NASDAQ: AKRX) and Strides Arcolab Limited (NSE: STAR)(BSE: 532531). The primary mission of the Joint Venture is to develop liquid, lyophilized and dry powder formulations of generic injectable products targeting several remedial markets with a major focus on anti-infectives, analgesics and CNS medicines.
Dexamethasone Sodium Phosphate Injection is indicated to treat various conditions such as hormone disorders, arthritis, blood disorders, dermatologic diseases, severe allergic reactions, eye diseases, certain cancers, gI diseases and respiratory diseases. Recent IMS data estimates an yearly market size for Dexamethasone of more or less $28 million.
The current product portfolio of the Joint Venture, which is funded evenly by Akorn and Strides Arcolab, was recently expanded and now includes 29 ANDAs with a amount of 53 SKU's, or product note offerings. To date, the Joint Venture has filed for 18 ANDAs and received 11 ANDA approvals. The Joint Venture has generated product revenue in the third gear quarter of 2008 from its initial product launch of Rifampin for Injection.
In a statement tending by Arthur S. Przybyl, President and CEO of Akorn and Member Manager of Akorn-Strides, LLC, "We are unrestrained to announce these two ANDA mathematical product approvals for Dexamethasone Sodium Phosphate Injection."
About Akorn, Inc.
Akorn, Inc. manufactures and markets sterile specialty pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois and Somerset, New Jersey and markets and distributes an extensive line of hospital and ophthalmic pharmaceuticals. Additional information is available at the Company's website at http://www.akorn.com.
About Strides Arcolab Limited
Strides, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is one of India's largest exporters of branded generic pharmaceutical products. Strides manufactures pharmaceutical formulations in diverse dosage forms, including capsules, tablets and liquid injectables and is one of the world's top 5 manufacturers of softgel capsules. Strides too has the only globally dedicated softgel facility for hormones. In addition, Strides undertakes sign on research and the manufacturing of distinctiveness chemicals for various transnational companies. Strides has a major presence in various developing countries such as Africa, Latin America and Asia as well as in developed markets such as the U.S., Canada and part of Europe. Strides is one of the largest Indian suppliers of institutionally funded aid projects and is an approved supplier to the Global Drug Facility, UNICEF, and MSF amongst others.
Strides has 14 manufacturing plants spreading across the U.S., Brazil, Mexico, Italy, Poland, Singapore and India. This broad manufacturing network facilitates partnering with world-wide organizations ranging from UNICEF and WHO-Global Drug Facility to European and American pharmaceutical multinationals, private labelers and distribution chains. Strides has product registrations in over 37 countries some the populace and has earned ISO 9001, ISO 14001 and GMP accreditations including USFDA. Strides employs approximately 1,700 citizenry across the globe. Strides also has a marketing presence in over 50 countries.
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