Amneal Pharmaceuticals Inc (NYSE: AMRX), a specialty pharmaceutical company, announced yesterday a 10-year license and supply contract with Jerome Stevens Pharmaceuticals Inc, a New York-based pharmaceutical manufacturer of prescription tablet and capsule formulations, effective 22 March 2019.

The contract has been signed for the supply of Levothyroxine sodium tablets. It covers an upfront milestone payment upon commercialisation and a profit share on future sales of Levothyroxine. Further terms of the agreement were not revealed.

The products are utilised in the therapeutic areas of hypothyroidism and pituitary TSH suppression. The US brand and generic market for Levothyroxine sodium tablets is estimated to be around USD2.6bn in annual sales and 122 million annual prescriptions, according to IQVIA for the 12 months ending 30 June 2018.