Intellipharmaceutics In Manufacturing And Supply Relationship With Teva

(RTTNews) - Intellipharmaceutics International Inc. (IPCI) Monday said it has entered into an agreement with Teva Pharmaceuticals USA, Inc. (TEVA) by which the company has granted Teva an exclusive license to market in the U.S. an extended release drug product candidate for which Intellipharmaceutics currently has an abbreviated new drug application pending for U.S. Food and Drug Administration approval.

Under the agreement with Teva, Intellipharmaceutics has agreed to manufacture and supply the product exclusively for Teva and Teva has agreed that Intellipharmaceutics would be its sole supplier of the product to be marketed in the U.S.

There can be no assurance as to when or if the product will be approved by the FDA or that, if so approved, it will be successfully commercialized and produce significant revenue for the company, Intellipharmaceutics added.