Indian pharma giant Micro Labs has joined forces with speciality pharmaceutical company Saptails to launch metformin oral solution in the US market.
The drug is considered the first line of treatment for managing Type 2 diabetes when diet and exercise alone have not been able to control blood glucose levels. It is the most widely prescribed oral medication for millions of patients, including in the UK.
Metformin oral solution is the only generic equivalent of Sun Pharma’s Riomet, which, according to IQVIA data, had sales of $15 million last year.
“After the successful launch of Clobetasol topical solution, Micro Labs is once again very excited to collaborate with Saptalis on the second product launch within three months,” said Ashok Jain, Director of Micro Labs USA, Inc.
“This is a testimony to our growing association and we look forward to additional launches in 2020,” he added.
Dr. Polireddy Dondeti, President & CEO of Saptalis said, “Saptalis is proud to offer patients with diabetes a much-anticipated generic equivalent of Riomet® Oral Solution.
“We are confident that the introduction of an affordable generic liquid formulation in two packaging sizes will help to expand the use of the medication in the growing patient segments with difficulty swallowing, including geriatric population. We value our partnership with Micro Labs and anticipate to strengthen it in the near future.”
Bangalore, India-based Micro Labs has presence in over 30 countries across Asia, Europe, America and Africa. In the UK it operates as Brown & Burk UK Ltd.
Long Island, New York-based Saptalis Pharmaceuticals, LLC is a rapidly growing pharmaceutical company specialized in development and manufacturing of generic and branded products.