Akorn Inc. and Serum Institute of India Ltd. announced the signing of an Exclusive Memorandum of Understanding (MOU)

Akorn Inc. and Serum Institute of India Ltd. announced the signing of an Exclusive Memorandum of Understanding (MOU) with an intent to commercialize six vaccines for the U.S. market. The four vaccine products are: Measles, Mumps and Rubella Vaccine (MMR), Human Diploid Rabies Vaccine, Recombinant Hepatitis B Vaccine, Oncology Bladder Cancer Vaccine (BCG). The MOU describes the intended terms for a partnership between Akorn and Serum, which shall be converted into definitive agreements within 60 days. Serum has agreed to manufacture the vaccines and grant Akorn exclusive marketing rights for the vaccines in the United States of America and its territories for a period of ten years from the date of receipt of biologics license application approval. Akorn may decide not to fund the clinical trials for any vaccine if it finds that the clinical trials are cost prohibitive, but upon doing so, the exclusive right granted by Serum to Akorn for that vaccine will lapse immediately.