Heritage Pharmaceuticals Introduces Nimodipine Soft Gel Capsules
EDISON, N.J., April 21 /PRNewswire/ -- Heritage Pharmaceuticals Inc. announced the immediate availability of Nimodipine Soft Gelatin Capsules in 30 mg strength. Heritage's development and manufacturing partner, Banner Pharmacaps Inc., received final approval of its Abbreviated New Drug Application (ANDA) for an AB Rated equivalent of Nimotop(R) on January 17, 2008.
Nimodipine Soft Gel Capsules are the generic equivalent of Nimotop(R) Capsules marketed by Bayer. Nimodipine is indicated for the improvement of neurological outcome by reducing the incidence and severity of ischemic deficits in patients with subarachnoid hemorrhage. Nimodipine had U.S. brand and generic sales of approximately $30 million for the 12-month period ending Dec. 31, 2007 according to IMS Health.
Commenting on the launch, Heritage President & CEO, Jeffrey Glazer, stated, "The launch of Nimodipine represents the first of several soft gelatin capsule generic products from our partnership with Banner. This product will enable Heritage's sales team to begin supplying the Institutional/Hospital class of trade and broadens our national account coverage. In addition, Nimodipine expands our niche, high-value product offerings as we continue to grow our global portfolio."
About Heritage
Heritage Pharmaceuticals Inc. is a rapidly growing generic pharmaceutical company engaged in the acquisition, licensing, development, marketing, sale and distribution of generic pharmaceutical products for the global prescription drug markets. Heritage has established itself as a competitor in the generic pharmaceutical industry by initially targeting niche products with revenues that are generally too small to command the resources and attention of major market participants. Heritage launched its U.S. label in 2006 and currently markets 5 products over 17 SKU's, including Ethambutol oral tablets, Hydralazine oral tablets, Hydrochlorothiazide oral tablets, Sulindac oral tablets and Nimodipine soft gel capsules. The Company's business model utilizes strategic outsourcing to U.S.F.D.A. qualified manufacturing and development organizations in both North America and Asia. The Company will continue to introduce its new generic products during 2008 following its tradition of premier quality, value and service in generics. www.heritagepharma.com
About Banner
Banner Pharmacaps Inc. is a global drug delivery and specialty pharmaceutical company which continues to develop a proprietary portfolio of unique products and oral dosage forms, including softgels and Soflet(R) Gelcaps. Headquartered in High Point, North Carolina, Banner is committed to the research, development, and manufacture of quality healthcare products to serve our global community. Additional information about Banner is available at http://www.banpharm.com.
* Nimotop(R) is a registered trademark of Bayer AG
CONTACT: Kon Ostaficiuk, Vice President of Sales & Marketing of Heritage
Pharmaceuticals Inc., Toll free, +1-866-901-1230, or +1-732-429-1000, or
fax, +1-732-429-1001, sales@heritagepharma.com
Web site: http://www.heritagepharma.com/
http://www.banpharm.com/