EirGen Pharma in deal with US firm

WATERFORD based EirGen Pharma has entered a deal with US-based Three Rivers Pharma which should deliver revenues in excess of $200 million (€280m) per year with profits shared on an agreed basis.

EirGen Pharma Ltd, a private Irish healthcare company, and Three Rivers Pharma LLC announced they have agreed collaboration to develop and commercialise a number of specialised pharmaceutical products for sale in the United States.

The announcement was made by Micheál Martin, Minister for Enterprise, Trade and Employment, during the Enterprise Ireland trade visit to the USA.

Under the terms of the agreement, EirGen Pharma will exclusively develop and commercially supply these products to Three Rivers Pharma for the US market.

EirGen Pharma will be paid for development and manufacturing costs. The firms will have an agreed profit-sharing deal.

EirGen’s Patsy Carney said Enterprise Ireland is an invaluable resource to clients like EirGen Pharma and thanked them for their continued support. “We are delighted to be partnering with Three Rivers Pharma as there is a strategic fit between EirGen Pharma’s high potency product development and manufacturing capabilities, and Three Rivers Pharma’s proven ability to successfully market niche pharmaceutical products in the US,” she said.