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Granules signs pact with US firm
Granules USA, the wholly-owned subsidiary of city-based Granules India Ltd, on Thursday said it entered into an agreement with Par Pharmaceutical Inc, a subsidiary of Nasdaq-listed Endo International plc, to market a generic version of omeprazole and sodium bicarbonate in North America.
Hyderabad: Granules USA, the wholly-owned subsidiary of city-based Granules India Ltd, on Thursday said it entered into an agreement with Par Pharmaceutical Inc, a subsidiary of Nasdaq-listed Endo International plc, to market a generic version of omeprazole and sodium bicarbonate in North America.
The launch of the over-the-counter (OTC) drug which is used for the treatment of acid will be done after the approval from the US Food and Drug Administration that is currently expected in July 2016. Par Pharmaceutical’s omeprazole and sodium bicarbonate is the generic equivalent of Merck/MSD Consumer Care, Inc’s Zegerid OTC.
Omeprazole is a proton pump inhibitor (PPI) that decreases the production of stomach acid. Sodium bicarbonate is an antacid that raises stomach pH to keep the omeprazole from breaking down in stomach acid.
“Granules is excited that, through this exclusive agreement with Par Pharmaceutical, we can strengthen our OTC product basket and widen our offerings in the North American store brand market for meeting retailers’ and consumers’ desire for competitive market choices and alternatives. said Krishna Prasad Chigurupati, Chairman and Managing Director, Granules India Ltd.
Continuing to reduce healthcare costs through our partnership with retailers, Granules is happy to offer consumers affordable medication choices, remarked Robert Fisher, President of Consumer Health division of Granules USA.