Shire plc (LSE: SHP, NASDAQ: SHPG), announces that its subsidiary Shire US Inc. has entered into an agreement to supply an authorized generic version of its product Adderall XR. Under the agreement, Sandoz Inc. will market an authorized generic version of Adderall XR® beginning July 1, 2016. From the December 1, 2013 effective date of the agreement through the end of the agreement's five-year term, Sandoz has agreed to exclusively sell the authorized generic version of Adderall XR supplied by Shire.
Shire will manufacture and supply Sandoz with all dosage strengths of the authorized generic product. Sandoz will distribute the product in the United States. Shire will receive a royalty from Sandoz's sales of the product.