Par enters strategic relationship with Turkey's MN Pharmaceuticals

By Angela McDaniels

Seattle, Oct. 24 - Par Pharmaceutical Cos., Inc. said it has entered into an agreement with MN Pharmaceuticals to develop and market generic versions of up to10 injectable pharmaceuticals.

Under the terms of the agreement, Par said MN will be responsible for the development and manufacture of all products, while Par will provide regulatory affairs support and submit each Abbreviated New Drug Application to the U.S. Food and Drug Administration as the U.S. filing agent on behalf of MN. Par will be responsible for any litigation expenses arising from the ANDA submissions and will have exclusive rights to market, sell and distribute the products in the United States.

Par said both companies will share the net profits generated by all marketed products.

"This collaboration permits Par to enter a new market segment, generic injectables, in a cost-effective way," said Scott Tarriff, president and chief executive officer.

Par has facilities in New Jersey and New York and develops generic pharmaceuticals.

MN is based in Istanbul, Turkey, and manufactures pharmaceuticals in bulk and finished dosage forms.

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