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Biotest Pharmaceuticals Announces Strategic Long-Term Manufacturing, Supply and License Agreement
By: PR Newswire
Jan. 10, 2013 04:30 PM
BOCA RATON, Fla., Jan. 10, 2013 /PRNewswire/ -- Biotest Pharmaceuticals Corp. (BPC), a wholly owned U.S. subsidiary of Biotest AG (Dreieich, Germany), today announced it has entered into a strategic long-term manufacturing, supply, and license agreement with ADMA Biologics, Inc. (ADMA).
Under the terms of the agreement, ADMA has agreed to purchase exclusively from BPC its worldwide requirements of RSV (Respiratory Syncytial Virus) Immune Globulin manufactured from human plasma containing RSV antibodies. The initial term of the agreement is for ten years. BPC will receive payment for manufacturing services provided under the agreement as well as a percentage royalty on ADMA's product revenues up to a specified maximum. In exchange, BPC has agreed to provide manufacturing services and granted ADMA a license to use BPC's proprietary fractionation and purification manufacturing process for Intravenous Immune Globulin.
"We are very pleased to partner with ADMA on their lead product candidate. Our ability to provide specialized contract manufacturing services will enable us to diversify our future revenue sources," stated Jordan Siegel, Chief Executive Officer of BPC.
About Biotest Pharmaceuticals Corporation
About Biotest AG
This document contains forward-looking statements on overall economic development as well as on the business, earnings, financial and assets position of Biotest AG and its subsidiaries. These statements are based on current plans, estimates, forecasts and expectations of the company and are thus subject to risks and elements of uncertainty that could result in significant deviation of actual developments from expected developments. The forward-looking statements are only valid at the time of publication. Biotest does not intend to update the forward-looking statements and assumes no obligation to do so.
SOURCE Biotest Pharmaceuticals Corporation
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