Amneal Pharmaceuticals, Inc. (Nasdaq: AMRX) (Amneal or the Company), a global pharmaceutical company, and Metsera, Inc. (Metsera), a clinical-stage biopharmaceutical company accelerating the next generation of medicines for obesity and metabolic diseases, has announced that they have entered into a collaboration agreement to enable the efficient development and large-scale supply of a portfolio of new weight loss medicines globally.

Under the terms of the agreement, Amneal will serve as Metsera’s preferred supply partner for developed markets, including the United States and Europe. Amneal will also be granted a license to commercialize Metsera’s products in select emerging markets, including India and certain countries in Southeast Asia, Africa, and the Middle East. Amneal will construct two new greenfield manufacturing facilities in India, one for peptide synthesis and one for sterile fill-finish manufacturing. The new site, which will house both facilities, is expected to break ground later this year, with a total net cost to Amneal of between US$150 million and US$200 million over the next four to five years, net of contributions from Metsera and government incentives. Additionally, Amneal will support Metsera with certain product development activities, including drug substance manufacturing, product formulation, and drug-device development.

Latham & Watkins advised Metsera in the transaction, with a life sciences licensing team led by partner Steve Chinowsky and counsel Darryl Steensma, with associate Mike Sweeney. Advice was also provided on real estate and project development matters by partner Steve Levine, with associate Daniel Eyal; on corporate matters by partner Peter Handrinos; and on tax matters by partner Kirk Switzer, with associate Derek Gumm.