Lannett has entered into an agreement with Areva Pharmaceuticals to be the exclusive U.S. distributor of fludarabine phosphate for injection 50 mg/2 ml, single-dose vials.
The medication is the generic of Bayer AG's Fludara.
"Fludarabine phosphate for injection represents a continuation of our push to new dosage forms with attractive market opportunities," said Lannett CEO Tim Crew.
"Moreover, a drug market shortage has recently existed for fludarabine phosphate for injection, so our goal, subject to FDA clearance, is to commence marketing as soon as possible, targeting later this calendar year, to help patients gain access to this important oncology medicine," Crew said. "We are pleased to establish a new strategic relationship with Areva Pharmaceuticals and look forward to launching this product."
Fludarabine phosphate for injection had a market value of roughly $4.9 million for the 12 months ending March 2022, according to IQVIA. However, the current market value is believed to be higher due to recent market disruptions.
Under the agreement, Lannett will provide sales, marketing and distribution support for the medication, for which it will receive a share of the profits. Other financial terms were not disclosed.