Breckenridge Pharmaceutical, Inc, a US-based subsidiary of Japan-based Towa Pharmaceutical, announced on Friday that it has signed a new-product agreement with United States-based PTS Pharma, LLC.

According to the contract, PTS is to support a technology transfer to Towa Pharmaceutical Europe, SL of a complex 'For Suspension' product developed by PTS. The remainder of development and commercialisation will be performed at the Towa facility.

According to industry sales data, the product and its generics had annual sales of approximately USD75m during the twelve months ending February 2022. The companies are actively negotiating and look forward to collaborating on additional complex formulations under the same business model.