Amerigen Pharmaceuticals and the Shanghai Fosun Omni Pharmaceutical Company Enter Into Collaboration Agreement for the Development of Generic Oral Controlled Release Products

EAST BRUNSWICK, N.J. and SHANGHAI, Jan. 11, 2012 /PRNewswire/ -- Amerigen Pharmaceuticals Limited ("Amerigen") and the Shanghai Fosun Omni Pharmaceutical Co., Ltd ("Fosun Omni") today announced they had entered into a collaboration agreement regarding the development of generic oral controlled release products. Under the terms of the agreement, Fosun Omni will use its formulation expertise to develop products for Amerigen to commercialize in the United States and other territories. On signing the agreement, Fosun Omni received an up-front fee with respect to the first product and is eligible for additional product-specific development milestones and royalties on any commercialized products.

"This collaboration allows Amerigen to add further momentum to its efforts to build a portfolio of differentiated, high value generic pharmaceuticals," said Jonathan Embleton, Chief Business Officer for Amerigen. "Omni's internationally experienced scientific team will develop complex oral controlled release formulations for scale-up and commercial manufacture at Amerigen's FDA approved facility in Suzhou, which is only a two hour drive from Fosun Omni's operating base in Shanghai's Zhangjiang Hi-Tech Park.

CSO of the Fosun Omni, Dr Ping He, commented, "This collaboration with Amerigen continues Fosun Pharma's strategy to develop some difficult ANDA products to FDA and to speed up the product commercialization process for our partners. This is the first step of the collaboration."

About Amerigen
Amerigen Pharmaceuticals is a group of companies engaged in all phases of the generic pharmaceutical business, with operations in the US and China. The group is controlled by Amerigen Pharmaceuticals Limited. The US regulatory and commercial activities within the group are conducted by Amerigen Pharmaceuticals Inc., based in East Brunswick, NJ, USA. The group's Chinese subsidiary, Suzhou Amerigen Pharmaceuticals Limited, is located in Suzhou, Jiangsu Province. The group has an active portfolio of products under development, filed, or intended for filing, as ANDA's with the US FDA and the Chinese SFDA. Amerigen's focus is orally delivered products that are challenging to develop, require specialized technologies or high containment to manufacture, and present complex regulatory and intellectual property obstacles to bring to market. All Amerigen's products are developed and manufactured by the company or its partners around the world to meet the highest quality standards, including the US FDA.

About Fosun Omni
Shanghai Fosun Omni Pharmaceutical Co., Ltd is a global pharmaceutical company devoted to development, out-licensing, formulation CRO services, and independent R&D for NDA and ANDA projects.  The company focuses are those difficult to develop, manufacture, and replicate oral solid formulations for regulated market and China market at highly competitive prices.

SOURCE Amerigen Pharmaceuticals Limited