Baxter Pharmaceutical Systems, a global leader in pharmaceutical manufacturing systems including pharmaceutical manufacturing and manufacturing systems solutions, has announced it has signed a memorandum of understanding with the Australian Pharmaceutical Manufacturers Association (APMA) for the manufacture of an unspecified number of medications.
The agreement, which was first reported by The Australian Financial Review, will see Baxter and APMA work together on the development of new medications and technology for use in Australia, the APMA said.
“We are delighted to announce that we have successfully concluded the memorandum of agreement to establish a joint venture between our two companies,” APMA president and CEO John Jorgensen said.
“Baxter will provide an entirely new supply chain for the development and manufacture of medicines in Australia.
This will provide the opportunity for us to build on the existing relationship with the APMAs leadership and expertise in pharmaceuticals manufacturing.”
The memorandum of understandings will provide Baxter and its new Australian subsidiary with a global supply chain with the potential to be used by Australian pharmacies and other prescribers.
“This will help us deliver on our commitments to the APMs mandate to deliver on Australian prescription demand for medicines,” Mr Jorgenson said.
A statement from Baxter said the memorandum is the result of “a long-term collaborative relationship with APMAS that spans over 20 years”.
“Baxter is a world leader in innovative solutions to healthcare challenges,” it said.