Baxter Announces Agreement with Dorizoe Lifesciences to Further Expand Generic Injectables Pipeline
June 14 2017 - 8:30AM
Business Wire
- Collaboration builds upon Baxter’s
pending acquisition of Claris and its ScinoPharm collaboration and
advances Baxter’s strategy of becoming a leader in generic
injectables
Baxter International Inc. (NYSE: BAX), a global medical products
company, today announced an agreement with Dorizoe Lifesciences
Limited (Dorizoe), a full-service global contract research and
development (R&D) organization, that will facilitate
accelerated development of more than 20 generic injectable
products—including anti-infectives, oncolytics and cardiovascular
medicines. Dorizoe will work with Baxter to perform certain product
development activities, and Baxter will hold worldwide
manufacturing and commercialization rights. Financial terms of the
agreement were not disclosed.
“This partnership extends Baxter’s growing pipeline of generic
injectables, further strengthening our portfolio with a broad range
of high-quality essential medicines,” said Robert Felicelli,
president, Pharmaceuticals, Baxter. “We look forward to working
with Dorizoe to bring their highly skilled technical expertise
together with Baxter’s manufacturing leadership and hospital
channel strength to better serve the needs of patients around the
world.”
Baxter estimates that the global sterile generic injectables
segment is more than $40 billion, with a compound annual growth
rate of approximately 10 percent (2010 – 2015). Baxter currently
participates in a niche portion of the segment, producing
difficult-to-manufacture oncology drugs and standard-dose,
ready-to-use premixed injectable products.
Baxter recently announced plans to expand its presence in the
space with the pending acquisition of Claris Injectables Limited
(Claris). The acquisition of Claris, which is expected to close in
the second half of 2017, will provide Baxter with a currently
marketed portfolio of molecules in anesthesia and analgesics,
renal, anti-infectives and critical care in a variety of
presentations including bags, vials and ampoules along with a
robust pipeline and high-quality manufacturing capabilities. Baxter
also recently announced a strategic partnership with ScinoPharm—one
of the world’s leading active pharmaceutical ingredient (API)
manufacturers—to develop, manufacture and commercialize five
generic injectables used in cancer treatment, with an option to add
up to 15 additional injectable molecules.
Dorizoe provides services for pharmaceutical companies including
formulation development, analytical development, tech transfer and
regulatory filing support. This agreement will build upon Dorizoe’s
R&D expertise and Baxter’s differentiated technologies,
advanced manufacturing capabilities and global marketing and
hospital channel presence to help accelerate the introduction of
Baxter’s generic molecules into the market.
About Dorizoe Lifesciences Limited
Dorizoe Lifesciences Limited is a full service global contract
research and development organization specialized in various dosage
forms including parenteral, topical, inhalation, ophthalmic and
oral liquid. Founded as a contract laboratory in 2007, Dorizoe
provides product development and technology transfer solutions to
pharmaceutical companies worldwide. Dorizoe works closely with API
suppliers and contract manufacturing organizations globally to
deliver a one-stop solution to customers.
About Baxter
Baxter provides a broad portfolio of essential renal and
hospital products, including home, acute and in-center dialysis;
sterile IV solutions; infusion systems and devices; parenteral
nutrition; surgery products and anesthetics; and pharmacy
automation, software and services. The company’s global footprint
and the critical nature of its products and services play a key
role in expanding access to healthcare in emerging and developed
countries. Baxter’s employees worldwide are building upon the
company’s rich heritage of medical breakthroughs to advance the
next generation of healthcare innovations that enable patient
care.
This release includes forward-looking statements concerning the
entry by Baxter and Dorizoe into a development agreement, including
expectations regarding the number of molecules to be developed
under the partnership agreement and Baxter’s presence in the global
injectables segment. The statements are based on assumptions about
many important factors, including the following, which could cause
actual results to differ materially from those in the
forward-looking statements: the ability of Baxter and Dorizoe to
develop, manufacture and commercialize new molecules in accordance
with the terms of the agreement; continued strength in the
financial position, including cash flows, of Baxter and Dorizoe;
Baxter’s ability to close the Claris transaction, successfully
integrate the business and realize the benefits of the acquisition;
actions of regulatory bodies and other governmental authorities;
changes in laws and regulations; and other risks identified in
Baxter’s most recent filing on Form 10-K and other SEC filings, all
of which are available on its website. Baxter does not undertake to
update its forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170614005583/en/
Baxter International Inc.Media Contacts:Eric Tatro, (224)
948-5353media@baxter.comorInvestor Contact:Clare Trachtman,
(224) 948-3085
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