Synovics gets ownership of Nostrum abbreviated New Drug Application

By Elaine Rigoli

Tampa, Fla., May 17 - Synovics Pharmaceuticals, Inc. announced that its generic drug development and marketing subsidiary, Synovics Laboratories, Inc., has obtained ownership of an abbreviated New Drug Application (aNDA) filed with the Food and Drug Administration for an extended-release 500 mg dosage of Metformin.

The move was part of an aNDA transfer and licensing agreement with Nostrum Pharmaceuticals, Inc.

Located in Phoenix, Synovics develops oral controlled-release generic drugs.

Nostrum is a specialty pharmaceutical company engaged in the development and commercialization of generic drugs and is located in Edison, N.J.

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