Strides Arcolab - Akorn-Strides, LLC announces Tenth ANDA Submission

Strides Arcolab Ltd has announced that Akorn-Strides, LLC, a joint venture Company formed between Akorn, Inc. (AMEX: AKN) and the Company on August 25, 2006 has announced that it has submitted its tenth Abbreviated New Drug Application (ANDA) with the Office of Generic Drugs. The Akorn-Strides joint venture was formed in September 2004 as the result of a development, manufacturing, and marketing partnership between Akorn and the Company. Since that time, the Company has been developing the ANDA products and Akorn has been filing the regulatory submissions on behalf of the joint venture. The first ANDA submission for the Akorn-Strides joint venture was filed in April 2006.

Arun Kumar, Executive Vice Chairman and Managing Director of the Company stated,. "We are delighted with the pace of filings through the JV with Akorn. We are confident of playing a significant role providing a strong pipeline and supplies to convert Akorn - Strides into a significant hospital player in the US.

Source : Equity Bulls

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