Oakrum Pharma and SunGen Pharma Announce U.S. Launch of Generic Version of Medrol® (Methylprednisolone Tablets USP, 4mg.)
SAINT LOUIS, MO -- October 28, 2019 (GLOBE NEWSWIRE) - Oakrum Pharma, LLC ("Oakrum"), in collaboration with SunGen Pharma, LLC ("Sungen"), announced today the U.S. launch and commercial shipment of a generic version of Medrol® (Methylprednisolone) in 4 mg tablets.
It is anticipated that the product will serve the retail market with annual sales in the U.S. exceeding $110 million in the aggregate for the 12-month period ending December 31, 2018 according to available data from IQVIA.
Marco Polizzi, CEO of Oakrum, stated, "We continue to build our product pipeline and grow our partnership network with the addition of Sungen as a proven R&D development partner". The addition of this product will add to Oakrum's product portfolio, bringing its total to eight.
Jim Huang, Ph.D., Co-CEO of Sungen, stated, "We are pleased to partner with Oakrum for this launch. Sungen continues to expand its product development portfolio and has secured eight ANDA approvals and has an additional seven filed with the FDA."
Isaac Liu, Ph.D., Co-CEO of Sungen, stated, "We are proud to add Methylprednisolone to our growing portfolio of specialty products, as well as announce our sixth product launch. The launch of Methylprednisolone tablet demonstrates our strong development and partnership capabilities. We look forward to collaborating further to bring specialty pharmaceutical drugs to the markets around the world."
About Oakrum Pharma, LLC
Oakrum Pharma, LLC is a privately-owned biopharmaceutical company focusing on development and commercialization of affordable drug therapies. For more information, visit www.oakrumpharma.com.
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 and complex injectable products. SunGen has business partnerships with many US-based generic pharmaceutical companies to develop, manufacture, and sell several pharmaceutical products in the US.
Statements in this press release that are not historical facts, including statements about future expectations of Oakrum are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. Oakrum intends that such forward-looking statements be subject to the safe harbors created thereby. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Oakrum's actual results to be materially different from its historical results or from any results expressed or implied by said statements. Oakrum's actual results may differ materially from those discussed in the forward-looking statements for reasons including, but not limited to, results of clinical trials, regulatory actions and the need for regulatory approvals, Oakrum's ability to fund development of its technology and to successfully complete clinical trials, the length of time and costs required to complete clinical trials and to submit applications for regulatory approvals, products developed by competing companies, commercial acceptance of Oakrum's products, and other factors. Oakrum is not responsible for updating events occurring after the date of this press release.