Yahoo Finance ECI Pharmaceuticals LLC Enters into Exclusive U.S. Distribution Agreement for Ibuprofen Prescription Strength Tablets and Folic Acid Prescription Strength Tablets
FORT LAUDERDALE, Fla., April 23, 2021 (GLOBE NEWSWIRE) -- ECI Pharmaceuticals, LLC (ECI) today announced that it has entered into an exclusive U.S. distribution agreement with AiPing Pharmaceuticals, Inc. (AiPing) to manage the sales, marketing, and distribution of Ibuprofen 400 mg, 600 mg, 800 mg tablets, and Folic Acid 1 mg tablets.
According to IQVIA data for the 12 months ended December 2020, total U.S. generic sales of Ibuprofen tablets 400 mg, 600 mg, 800 mg was approximately $110 million. Generic Folic Acid tablets 1 mg were approximately $20 million for the same period. ECI plans to launch both Ibuprofen and Folic Acid under the ECI label.
“We are pleased to expand our sales, marketing, and distribution agreement with AiPing to include these additional products,” said Andrew Berk, Senior Director Business Development and Strategy for ECI. “AiPing has been a collaborator of ECI for several years on another ANDA product, and we look forward to our continued success in expanding our relationship with these highly valued and widely used generic pharmaceutical products.”
“We have chosen to expand our alliance with ECI because of our successful collaboration on another generic product,” commented Emma Li XU, CEO of AiPing “We are broadening our relationship with ECI because of their team’s ability to launch products swiftly and execute launch plans well. We will work closely with ECI to launch these products in the coming weeks.”
About ECI Pharmaceuticals
ECI Pharmaceuticals LLC is a Fort Lauderdale based Pharmaceutical company involved in the development and manufacturing of generic pharmaceuticals seeking to gain approvals for a comprehensive range of therapeutic areas for marketing and distribution in the US.
About AiPing Pharmaceuticals
AiPing Pharmaceutical Inc. is an emerging pharmaceutical company whose mission is to provide high quality, affordable prescription medications. The company’s portfolio consists of products across a wide range of therapeutic areas. Our headquarters is based in Long Island, New York, USA, consisting of a 120,000 ft² manufacturing facility and an 87,000 ft² distribution warehouse. Our satellite offices are located in Zhongshan and Shanghai, China, respectively. AiPing currently maintains various certifications and U.S. state licenses in our FDA approved facilities.
Contact:
Bob Franks
General Manager
ECI Pharmaceuticals, LLC.
Main: 954-486-8181
bfranks@ecipharma.com
