LANGHORNE, Pa.
Techdow USA Inc. (“Techdow USA”), a wholly owned subsidiary of Hepalink USA Inc., and Chia Tai Tianqing Pharmaceutical Group Co., Ltd. (“CTTQ”), an integrated company engaged in the Development, Manufacturing and Licensing of pharmaceuticals, are pleased to announce the signing of a Licensing, Supply and Distribution agreement regarding the launch of Fosaprepitant for Injection, the therapeutic generic equivalent of EMEND® (fosaprepitant) for injection in the US market.
Fosaprepitant for Injection had US brand and generic sales of approximately $35 million, according to IQVIA Health for the 12 months ending June, 2023. Both the API and drug product will be manufactured by CTTQ and the ANDA product will be sold under the Techdow USA Label.
“This transaction reinforces a key element of Techdow USA’s growth plan and complements our best-in-class institutional distribution capabilities with a ready-now product,” said Darren Alkins, Chief Executive Officer of Techdow USA. “We are elated to be working with CTTQ and impressed with their quality and product development capabilities. Our agreement with CTTQ initially includes Fosaprepitant and will look to expand the relationship over time. We also continue to evaluate other collaborative opportunities, all of which are intended to further expand our product offerings.”
“CTTQ is happy to partner with Techdow USA and we will extend our complete support to Techdow USA for gaining market share for this product,” said Jessica Yan, Head of International Business – CTTQ Pharma.
Techdow USA is among the fastest growing companies in the US generic pharmaceutical industry and specializes in the sale of generic injectable pharmaceuticals. Techdow USA continuously explores opportunities to expand their product portfolio and pipeline to better serve patients and customer needs.
As the most important subsidiary of Sino Biopharmaceutical Limited, the listed company on the Stock Exchange in Hong Kong under the code 1177, Chia Tai Tianqing Pharmaceutical Group Co., Ltd. (CTTQ) is a top 30 pharmaceutical company in China. After posting revenues north of $3.1 bn in 2021, the group expects to be more active in international business with GMP basis approval by EU Health Authority and US FDA, as well as specialized and diversified products in pipelines.
For more information, please visit www.techdowusa.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230822632736/en/
CONTACT
Jonathan Mordh
(608) 807-8905
Jonathan.Mordh@TechdowUSA.com
