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Elite, SunGen Pharma in Development and License Agreement

To collaborate on four generic products

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By: Kristin Brooks

Managing Editor, Contract Pharma

Elite Pharmaceuticals, Inc., a specialty pharmaceutical company developing abuse-deterrent opioids and niche generic products, has entered into a development and license agreement with SunGen Pharma, LLC to develop and commercialize four generic pharmaceutical products.

The companies will share responsibilities and development costs, and upon approval, the products will be jointly owned. SunGen shall have the exclusive right to market and sell two of the products using SunGen’s label and Elite shall have the exclusive right to market and sell two of the products using its label. Elite will manufacture and package all four products on a cost plus basis. Two of the products are classified as CNS stimulants and two are classified as beta blockers.

“We are excited to collaborate with SunGen on the development of these four important generic products,” said Nasrat Hakim, chairman and chief executive officer of Elite. “We are thrilled to have this long term strategic partnership with Elite and collaborate in a broad range of product portfolio indevelopment, manufacturing and marketing,” said Dr. Jim Huang, chief executive officer of SunGen.

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