Why Endo International Is Up 25 Percent

10:35 08/08/2018

Nevakar Inc., a specialty pharmaceutical company developing multiple assets in the ophthalmic and injectable areas, announced today that it recently entered into an exclusive licensing agreement with Endo International plc ENDP  subsidiary, Endo Ventures Limited, for the development of five differentiated, sterile injectable products in the U.S. and Canada. Pursuant to the agreement, Nevakar will develop and seek U.S. Food and Drug Administration (FDA) approval for these products and Endo’s Par Pharmaceutical Sterile Products division will launch and distribute the products upon approval.

“We are pleased to establish this partnership with Endo, a respected pharmaceutical company with a significant and growing presence in sterile and critical care products. This agreement validates Nevakar’s strong pipeline and business model and furthers our mission to develop innovative pharmaceutical products that improve patient care and quality of life,” stated Navneet Puri, Ph.D., Founder, President and Chief Executive Officer of Nevakar.

“This important strategic initiative provides us with products that align well with our goal of expanding our sterile injectables’ business and adding more complex 505(b)(2) products into our pipeline. If approved, these drugs will benefit patients by providing new treatment options in the hospital and critical care environment,” said Paul Campanelli, President and CEO of Endo. “We look forward to once again working with Dr. Navneet Puri and the Nevakar team to bring these products to market.”

Par Pharmaceutical currently markets several products that were developed by InnoPharma, a company which was also founded by Dr. Navneet Puri and subsequently sold to Pfizer in 2014.

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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