PRINCETON, N.J., March 13, 2019 (GLOBE NEWSWIRE) -- SunGen Pharma, a privately held specialty pharmaceutical company which develops, contract manufactures, and sells pharmaceutical finished products, today announced the launch of Busulfan Injection, the second product launch through their joint venture Peterson Athenex with Athenex Pharmaceuticals (ATNX). The ownership of the approved US ANDA was transferred from Sandoz, a Novartis Division, to SunGen and Athenex.
The Busulfan Injection is distributed as a prefilled liquid vial with a strength of 6mg/ml in packs of 8 (NDC 70860-216-10). US Market Sales of Busulfan Injection were $33.6M for the year ending December 2018 according to IQVIA data. Busulfan injection is indicated for use in combination with cyclophosphamide as a conditioning regimen prior to allogeneic hematopoietic progenitor cell transplantation for chronic myelogenous leukemia.
Dr. Isaac Liu, Co-CEO and President of SunGen Pharma, added, “We are proud to add Busulfan Injection to our growing portfolio of specialty injectable products, as well as announce our second product launch through our joint venture. We will continue to look for opportunities to launch products to fill marketplace needs.”
Jeffrey Yordon, Athenex’s Chief Operating Officer and President of Athenex Pharmaceuticals, stated, “The launch of Busulfan Injection demonstrates a strong start to our partnership with SunGen Pharma. We look forward to collaborating further to bring specialty pharmaceutical drugs to the market.”
Peter Werth, CEO and Chairman of ChemWerth, Dr. Syed Abidi, Chairman of Pharmaceutics International Inc. (Pii), and Dr. Kurt Nielsen, President and CEO of Pharmaceutics International Inc. (Pii), both companies are partners in this transaction, also congratulated the launching of this product, “We are proud to be associated with Isaac and Jeff on the launching of this important product. From the acquisition to the launching of this product in merely two months is truly amazing.”
SunGen Pharma started its oral and topical research and development center in January 2016.
In August 2016, it entered into a Development and License Agreement with Elite Pharmaceuticals, Inc. to collaborate to develop and commercialize four generic pharmaceutical products.
SunGen formed a sales and marketing joint venture with Athenex Pharmaceutical in September 2016 named Peterson Athenex Pharmaceuticals, to market seven pharmaceutical products.
SunGen established its injectable division in October 2017 through the acquisition of a privately held pharmaceutical company based in Monmouth Junction, New Jersey. The company launched its first injectable product Terbutaline Sulfate as a prefilled liquid vial with a strength of 1mg/1ml. The product was launched July 10th, 2017.
In August 2018, SunGen announced it has entered into a strategic manufacturing partnership with Grand River Aseptic Manufacturing to collaborate in the manufacturing and commercialization of generic injectable pharmaceutical products.
SunGen and its partners have filed over 12 ANDAs by the end of December 2018.
About SunGen Pharma LLC
SunGen Pharma, LLC is a privately held specialty pharmaceutical company which develops, contract manufactures, and sells pharmaceutical finished products. SunGen specializes in the development of oral solid extended release, topical and complex injectable products. SunGen has business partnerships with many North American, European and Asian based generic pharmaceutical companies to develop, manufacture, and sell several pharmaceutical products around the world.
SunGen Pharma LLC
Office: (609) 606-1070