Pharmaceutical products company Lannett Company Inc (NYSE:LCI) on Wednesday announced an agreement to be the exclusive US distributor of Posaconazole Delayed-Release Tablets 100mg from Sinotherapeutics Inc, a China-based specialty pharmaceutical company.

Lannett expects to commence shipping the US Food and Drug Administration (FDA) approved Posaconazole Delayed-Release Tablets 100mg shortly.

Sinotherapeutics' Posaconazole Delayed-Release Tablets 100mg is an AB-rated generic equivalent of Merck's Noxafil Delayed-Release Tablets for preventing certain fungal infections. The brand product's annual US sales were approximately USD325m for the 12 months ended June 2019, according to IQVIA.

Lannett will make milestone payments to Sinotherapeutics Inc based on market dynamics and performance.

Additionally, Lannett will provide sales, marketing and distribution and will receive a share of the profits. Other terms were not disclosed.