Recro Pharma (REPH) announced that its CDMO division, has amended its existing license and supply agreement with Teva (TEVA) to extend the agreement for six years, effective January 1. Under the terms of the amended agreement, Recro Gainesville will continue to supply Teva with Verapamil SR capsules through 2024 and Teva will continue to be Recro Gainesville’s exclusive United States distributor of the product, for which Recro Gainesville is the new drug application holder. The Teva agreement provides to Recro Gainesville the same revenue economics as the original agreement, including both manufacturing and profit sharing components. Prior to this amendment, the license and supply agreement with Teva for Verapamil SR was renewable on a year-to-year basis.
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