Iconovo AB (“Iconovo”) today announced that CBC Corporation (Private) Ltd. (“CBC”) will take over the development of generic SymbicortÓ (budesonide+formoterol) product (the “Product”).
Iconovo had previously entered into a Development and License Agreement (the “Agreement”) with Amneal Pharmaceuticals Company GmbH (“Amneal”), an affiliate of Amneal Pharmaceuticals LLC, for the Product. Under the terms of the arrangement, CBC will take over all existing obligations of Amneal under the current Agreement, including milestone payments and future royalties. The project was initiated in 2016 and will continue according to plan. Read more