ANI Pharmaceuticals has signed a binding letter of intent for the development of an oral soft gel prescription product with Sofgen Pharmaceuticals. The product, indicated for cardiovascular health, will be the subject of an ANDA filing. Sofgen will be responsible for the development, manufacturing and regulatory submission of the product and ANI will be responsible for marketing and distribution in the U.S.
Arthur S. Przybyl, ANI's president and chief executive officer, stated, "I am pleased to have entered into this collaboration with Sofgen for an oral soft gel drug. In addition to our internal product development efforts, we will continue to pursue opportunities through external partnerships and acquisitions in order to leverage our core capabilities in manufacturing and marketing. We are fortunate to have such a high quality partner in Sofgen."