Aucta Pharmaceuticals announced that it has entered into an agreement with Oakrum Pharma, LLC (Oakrum) to develop and manufacture four prescription generic pharmaceutical products that are intended to be commercialized in the U.S. under the Oakrum label. It is anticipated that the products will serve the retail market and will include oral solutions and topicals. The total addressable market exceeded $300 million in the aggregate for the 12-month period ending December 31, 2018, according to available data from IQVIA.
Shoufeng Li, CEO of Aucta, stated, “We selected Oakrum to be our exclusive U.S. marketer for these products because of the commercialization expertise the Oakrum team will bring to this collaboration. We continue to expand both our product development portfolio and our partnerships to help grow our business and continue to bring high-quality affordable prescription products to market.”
Marco Polizzi, CEO of Oakrum, stated, “We are excited to partner with Aucta on our first external product development collaboration. Aucta provides unique product development capabilities and scientific expertise that should grant Oakrum access to difficult-to-formulate products, and these products will contribute to our objective of bringing more affordable specialty and rare disease prescription products to market. These products are part of our growing pipeline of unique and high-quality affordable medicines.”