RECRO PHARMA, INC. (NASDAQ:REPH)
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By Michael Dabaie
Recro Pharma Inc. (REPH) said Monday it entered into a five-year manufacturing and supply agreement with Novartis (NVS).
Under the agreement, the company's Recro Gainesville division will continue to be the exclusive global supplier to Novartis of Ritalin LA and Focalin XR capsules through 2023, the company said.
The prior Novartis supply contracts were set to expire in late 2019 and mid-2020, respectively, and provided for two revenue components, product manufacturing revenue and royalty revenue. These agreements were consolidated into the new agreement, which provides for product manufacturing revenue that is expected to provide similar total-revenue-per-capsule economics as the two prior revenue components combined.
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(END) Dow Jones Newswires
February 11, 2019 08:58 ET (13:58 GMT)
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