Recro Pharma has extended its license and supply agreement between Recro Gainesville, its CDMO division, and Teva for a further six years.
Recro Gainesville will continue to supply Teva with Verapamil SR capsules through 2024 and Teva will continue to be Recro Gainesville’s exclusive US distributor of the product, for which Recro Gainesville is the New Drug Application holder.
The 2019 Teva Agreement provides to Recro Gainesville the same revenue economics as the original agreement, including both manufacturing and profit sharing components.
Prior to this amendment, the license and supply agreement with Teva for Verapamil SR was renewable on a year-to-year basis.
“Teva is the largest generic pharmaceutical company in the world and continues to do a tremendous job as our exclusive marketing partner for Verapamil SR,” said Scott Rizzo, Senior Vice President, General Manager of Recro Gainesville.
“The 2019 Teva Agreement both extends our baseline manufacturing business for a substantial period of time and serves as a solid foundation upon which to add new CDMO customers.”