Alchemia Release: Significant Milestone on Path to Commercialisation of Fondaparinux
Published: Dec 17, 2008
BRISBANE, Australia--(BUSINESS WIRE)--Australian drug developer, Alchemia Limited (ASX:ACL), today announced the achievement of a significant milestone towards the commercialisation of its lead product, generic fondaparinux. As a consequence, Alchemia will receive payments from its manufacturing and marketing partner Dr Reddy’s Limited (DRL) totaling US$1,625,000 (A$2,400,000). US$1 million will be received in December 2008 and a further US$625,000 upon the earlier of the approval of the Abbreviated New Drug Application (ANDA) and 31 December 2009.