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Cadila Pharmaceuticals Ltd. and Altus Formulation Inc. Announce New Flexitab Product Co-Development and Licensing Agreement

Wednesday, 18 October 2017 07:30 AM

Altus Formulation Inc.

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MONTREAL, QC / ACCESSWIRE / October 18, 2017 / Cadila Pharmaceuticals Ltd., a privately owned Indian pharmaceutical company, and Altus Formulation Inc., a Montreal-based drug development company, have today announced the signing of a new co-development and licensing agreement for the Altus' Flexitab™ formulation platform.

Under the terms of the agreement, Cadila and Altus will jointly select key development targets benefiting from the Flexitab™ technology and will co-develop and obtain marketing approval for these products in various territories. Products co-developed and commercialized under the agreement may be sub-licensed to third parties around the globe.

Sharing his optimism on the collaboration, Dr. Rajiv Modi, CMD, Cadila Pharmaceuticals Ltd., said, "We are driven by research based innovation that provides care and affordable solutions to our customers. Our partnership with Altus allows us to leverage their unique Flexitab™ technology, ensuring cost-effectiveness and value-added formulations for patients."

Dr. Damon Smith, CEO of Altus Formulation, said, "We are excited to enter into this agreement with Cadila Pharmaceuticals whose science led, patient-focussed approach makes them the ideal partner for Flexitab. We look forward to co-developing and commercializing a range of patent protected and label differentiated new products with Cadila that will bring significant value to both our companies."

About Flexitab™ Technology

Flexitab™ is a patent protected, commercially validated tablet technology providing alcohol resistant extended release tablets that may be broken, with no change in performance, to generate bio-equivalent lower strength segments. Flexitab™ technology can be used to generate novel enhanced generic tablets and can increase the value of existing non-breakable extended release products.

About Cadila Pharma

Cadila Pharmaceuticals Ltd. is one of the largest privately held pharmaceutical companies in India. Over the last six decades, the company has been developing and manufacturing pharmaceutical products in India and selling and distributing these in over hundred countries around the world. The company is presently in more than forty five therapeutic areas spread across twelve specialities (www.cadilapharma.com).

About Altus

Altus Formulation is a Quebec based drug formulation and development company. The company uses its proprietary and patent protected drug delivery technologies to generate novel, differentiated and cost effective new products for its partners and their patients. With a focus on Safer-to-Use™ formulations, Altus Technologies also include the Intellitab™ misuse and abuse resistant tablet platform and SmartCelle™ technologies for intravenous or oral delivery of low solubility large and small molecules (www.altusformulation.com).

Contact Information:

For media, business development and all other inquiries, please contact;

Louise Fortin
[email protected]
Tel : (1) 1 450 433 7673 x 8427

SOURCE: Altus Formulation Inc.

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