Labopharm and Angelini set up JV to commercialize Oleptro in USA

Canada's Labopharm and privately-owned Gruppo Angelini of Italy have entered into an agreement to establish a joint venture in the USA for the commercialization of Oleptrol (trazodone HCl) extended release tablets, a novel once-daily formulation of the antidepressant trazodone approved by the US Food and Drug Administration on February 3 this year. The JV, Angelini Labopharm, will be 50% owned by each partner and will be initially managed by Mary Anne Heino, president of Labopharm's US Operations, and her team.

"This joint venture builds on the foundation of mutual trust and a track record of execution that underlies the co-development relationship we established with Angelini more than four years ago," said James Howard-Tripp, president and chief executive of Labopharm.