Cadence Pharmaceuticals, Inc. (NASDAQ: CADX), a biopharmaceutical company focused on acquiring, in-licensing, developing and commercializing proprietary products principally for use in the hospital setting, today announced a new supply agreement with Laboratorios Grifols, S.A. for the development, manufacture and supply of commercial quantities of OFIRMEV (acetaminophen) injection in flexible plastic bags. Previously, Cadence announced the extension of its supply arrangement for OFIRMEV in glass vials with Lawrence Laboratories, a member of the Bristol Myers Squibb group of companies, through December 31, 2018. Additionally, the company has terminated its development and supply agreement for OFIRMEV in glass vials with Baxter Healthcare Corporation.
"We are very pleased to extend our existing relationship with Lawrence Laboratories, which we believe will allow us to meet our customers' growing demand for OFIRMEV packaged in glass vials. As a result of our new collaboration with Grifols, we anticipate that by the second half of 2014, we will be able to offer our customers the option of purchasing OFIRMEV in flexible IV bags. We believe that the combination of these two sources will ensure an adequate long-term supply of the product, while also supporting our risk management objectives through geographic diversification," said Ted Schroeder , President and CEO of Cadence. "Additionally, the termination of our supply agreement with Baxter marks the amicable end to our collaboration for the development and initial commercial supply of OFIRMEV."
According to Jose Antonio Garcia , President of Laboratorios Grifols, "The agreement with Cadence will further enhance Grifols' third-party drug manufacturing activities, contributing to the geographical diversification of the division, and helping to maximize the use of the manufacturing facilities at Parets del Valles (Barcelona, Spain)."
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