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Gedeon Richter Plc. and Adalvo, a pharmaceutical company, have entered into a strategic joint development and licensing agreement for the development of Semaglutide injection, an active ingredient used for weight loss treatment.
They announced that the collaboration is based on a shared vision: to shape the future of obesity treatment by providing broad access to high-quality treatment options in one of the world’s fastest-growing therapeutic areas.
The agreement covers global rights, under which the two companies will share development costs and net profits in each other’s markets.
As part of the agreement, Richter is entitled to use the supply chain selected under the agreement to manufacture the product. However, under certain conditions, Richter also reserves the right to manufacture the product in its own facilities for direct distribution.
The announcement highlighted that
Adalvo was the first to enter the market with this solution and remains committed to developing the market through strategic partnerships.
This collaboration will put Gedeon Richter Plc. and Adalvo in a strong position to meet the growing demand for effective weight management solutions.
Malta-based Adalvo is a global pharmaceutical company and one of Europe’s leading B2B pharmaceutical companies, with more than 130 countries and over 140 commercial partners worldwide.
Via MTI, Featured photo via Hungary Today