Hospira Celltrion Agreement (NYSE:HSP)

Hospira Inc and Celltrion Healthcare Inc have signed a Business Cooperation Agreement which outlines the business terms of a future distribution agreement in countries like United States of America, Europe, Canada, Australia and New Zealand for eight biogeneric products that are currently under development stages by Celltrion, and five products which are incremental to Hospira’s pipeline. Hospira Inc is a specialty pharmaceutical and medication delivery company dedicated to Advancing Wellness. They are world leader in specialty generic injectable pharmaceuticals and they offer one of the broadest portfolios of generic acute-care and oncology injectables. On the other hand Celltrion Inc is a leading biopharmaceutical company in Korea that specializes in monoclonal antibody capabilities.

Under the distribution agreement between the two biopharmaceutical firms it has been decided that they will collaborate on manufacturing and supply of the products. After regulatory approval, Hospira and Celltrion would co-exclusively market the drugs with the products independently commercialized under each party’s brand name.

Chairman and CEO of Hospira, Christopher B. Begley has stated that the partnership will provide Hospira an access to Celltrion’s large biogeneric portfolio, and it also shows Hospira’s commitment towards organic and inorganic growth. The Business Cooperation Agreement signed today will be finalized in few coming months.