Eatontown, NJ, August 5, 2014. Avet Pharmaceuticals Inc. (“Avet”) has signed an Exclusive Development, Supply & Distribution Agreement with Dexcel Ltd. (“Dexcel”) for an Extended Release ANDA drug product. Dexcel will be responsible for the development, registration and manufacturing of the product, and Avet Pharmaceuticals will be responsible for marketing and distribution in the U.S. The product generates generic annual U.S. sales of approximately $60 million, per IMS Health. Financial terms of the agreement were not disclosed.