Recro in New Supply Agreement with Novartis
February 11 2019 - 9:13AM
Dow Jones News
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.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
February 11, 2019 08:58 ET (13:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Novartis (NYSE:NVS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Novartis (NYSE:NVS)
Historical Stock Chart
From Apr 2023 to Apr 2024
