Drug-delivery specialist Unilife (NSDQ:UNIS) said it has signed a global strategic deal with Flextronics (NSDQ:FLEX) aimed at expanding its production capabilities.
Under the deal, Flextronics will help support increasing demand for Unilife products from pharmaceutical clients. Flextronics will also serve as a secondary production source for Unilife, which also operates a manufacturing facility in York, Pa.
Financial terms were not disclosed.
"This strategic alliance will further enhance our supply chain and maximize efficiencies by aligning our own production capacity and scale-up capability with Flextronics’ proven manufacturing expertise and established global size. Flextronics is a leading and trusted provider of supply chain solutions for the pharmaceutical industry, and has long-term relationships with many current and prospective Unilife customers," president & COO Ramin Mojdeh said in a statement. "We look forward to leveraging the power of Flextronics and their global manufacturing capabilities to further enhance Unilife’s own supply chain network and generate attractive manufacturing and supply chain efficiencies and robustness. Additionally, this partnership allows for the most efficient capital investment strategy to support our rapidly growing demand.”
"Flextronics is proud to collaborate and provide supply chain solutions to Unilife," added Flextronics president Mark Kemp. "We believe Unilife has created an exciting product portfolio that has significant potential to optimize the safe, simple and convenient delivery of injectable biologics, drugs and vaccines. We look forward to aligning our established, well-known supply chain solutions with Unilife’s market-leading products and services to meet the long-term needs of pharmaceutical and biotechnology companies."
In March, Unilife raised $60 million through a debt financing agreement with OrbiMed Advisors.
