OTC omeprazole

Executive Summary

Synovics Pharmaceuticals announces March 15 it has entered into a binding letter of intent for exclusive, worldwide rights to the development and commercialization of an OTC omeprazole. Contract processor Fluid Air will deliver the product to Phoenix-based Synovics' subsidiary Kirk Pharmaceuticals. Fluid Air's DuraGran technology will allow Synovics to avoid patent infringement, the firm says. Synovics, formerly known as Bionutrics, bought Kirk in July 2005 (1"The Tan Sheet," Aug. 1, 2005, In Brief). Synovics plans to submit an ANDA in the second half of 2007. Perrigo said in a February analyst call it expects to launch an omeprazole product in November 2008 (2"The Tan Sheet," Feb. 5, 2007, p. 5). Under a licensing agreement, Schering-Plough hopes to bring Santarus' immediate release omeprazole product Zegerid to the market as well (3"The Tan Sheet" Nov. 27, 2006, In Brief)...