Lannett and Azad forge drug discovery accord

US generic pharmaceuticals manufacturer Lannett says it has signed an agreement with Switzerland-based drugmaker Azad Pharma AG to co-develop and commercialize an as yet unidentified drug. Azad has also agreed to supply the Philadelphia-headquartered firm with five key active pharmaceutical ingredients.

Lannett's president, Arthur Bedrosian, said that both firms intended to work together on a coordinated and continuing basis, adding that the deal would allow his company to add new APIs and dosage forms to its existing product range. Mr Bedrosian also said that his company would continue to seek out strategic partnerships with both foreign and domestic firms as part of its ongoing drug development program. Financial terms of the deal were not made public.