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Waverley Pharma Announces Acquisition of two Generic Oncology Products Currently Marketed in the United Kingdom
Waverley Pharma Announces Acquisition of two Generic Oncology Products Currently Marketed ...
About this update from Waverley Pharma, Inc.
[{"type":"text","content":"\n\n\n\nWaverley Pharma Announces Acquisition of two Generic Oncology Products Currently Marketed in the United Kingdom\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, June 25, 2018\n\n\n\nWINNIPEG, June 25, 2018 /CNW/ - Waverley Pharma Inc. (\"Waverley Pharma\" or the \"Company\") (TSXV:WAVE), an emerging Canadian pharmaceutical company, is pleased to announce that its wholly-owned subsidiary in Barbados, Waverley Pharma International Inc., has acquired two generic oncology products, temozolomide and capecitabine, currently marketed in the United Kingdom (UK), from Reliance Life Sciences Private Limited (\"RLS\"). The products were developed by RLS, and the binding contracts with the UK National Health Service for the supply of these products are being transferred to Waverley Pharma. \n\nRLS will manufacture the two products for Waverley Pharma at its Medicines and Healthcare products Regulatory Agency approved manufacturing facility in Mumbai, India. Waverley Pharma expects to make modest profit margins on the products after paying transfer prices to  RLS, and after distributor and analytical testing charges in the UK are accounted for. \n\n\"While this acquisition transforms Waverley Pharma into a revenue generating company, it more importantly positions us well for the launch of WAV-101 and 102, once they get approved in the European Union,\" stated the Company's President and CEO, Dr. George R. Thomas.  \n\n\"Reliance Life Sciences is pleased to be able to contribute to strengthening the oncology product portfolio of Waverley Pharma with the addition of temozolomide and capecitabine, and, in the process, reinforce the relationship,\" stated Mr. K.V. Subramaniam, President of RLS.\n\nAbout Reliance Life Sciences Private Limited\n\nReliance Life Sciences Private Limited (RLS) is part of the Promoter Group of Reliance Industries Limited. RLS was established to develop business opportunities in medical biotechnology with key initiatives in biopharmaceuticals, pharmaceuticals, regenerative medicine, clinical research and molecu...