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LONDON (Reuters) - Pharmaceutical company Shire said on Monday it had agreed to supply an authorized generic version of Adderall XR, its drug to treat hyperactivity, to Sandoz.
Adderall, an amphetamine, is available in instant release and extended release formulations. Shire now only produces the extended version, for which it retains patent rights, and sales of the drug have been falling since a generic version became available in 2009.
However, the drug still generated sales of $81.4 million for Shire in the third quarter of the year.
Under the agreement, Sandoz, the generic arm of Novartis, will exclusively sell the authorized generic version of Adderall XR supplied by Shire from July 1, 2016 in the United States, Shire said, adding it would receive a royalty on sales.
Reporting by Paul Sandle; editing by Kate Holton