Acella Pharmaceuticals has signed a licensing agreement for the U.S. marketing rights to a generic version of an intravenous administered broad-spectrum antibiotic.
The Abbreviated New Drug Application (ANDA) was filed with the FDA in November 2009, and is expected to gain approval within the next 24 months.
Under the terms of the agreement, Acella Pharmaceuticals will market, sell and distribute the generic product in the U.S. Mark Pugh, CEO states, "This strategic move into the institutional marketplace serves to diversify Acella Pharmaceuticals' product line and customer base while providing an exciting new avenue for company growth."
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