Pronova BioPharma renews supply agreements for the Italian market
(Thomson Reuters ONE) -
Oslo, 28 April 2011: Pronova BioPharma announced today that it has entered into
new, exclusive supply agreements for its pharmaceutical grade Omega-3 products
with Prospa and Pfizer for the Italian market.
Commenting on the agreements, Morten Jurs, CEO of Pronova BioPharma, said,
"Italy was the first market we launched in and was for many years our largest
market. Even today it remains our second largest market and continues to grow at
double digit rates. Our positioning and performance are due in large part to our
partners' fantastic marketing and sales efforts. I am therefore very pleased to
announce that we have entered into these new agreements comprising 100 per cent
of the total requirements of Prospa, Sigma Tau and Pfizer for the Italian
market. This is a great testament to the strength of our product and
partnerships."
Pronova BioPharma has manufactured the active pharmaceutical ingredient for the
Italian market since launch in 1994. The pharmaceutical product is sold under
three brands in Italy, Seacor®, Eskim® and Esapent®, with a combined focus on
both the HTG and post-MI indications. Italy is the second largest market for
Pronova BioPharma, with total end-user sales of 232 tonnes in 2010, representing
growth of 12 per cent versus 2009.
In addition to the strong local presence and long-term dedication of Pronova
BioPharma's partners, the pharmaceutical product has received important backing
from key opinion leaders in Italy as a result of three large scale trials, the
GISSI Prevenzione trial, the GISSI Heart Failure trial and the ongoing GISSI
Risk and Prevenzione trial, which have included most leading cardiology centres
in Italy, and provided significant clinical evidence of the product's cardiac
protective effects.
"The complex nature of the value chain, coupled with the capital intensity
involved in building manufacturing capacity and the specialisation required to
produce high concentrate omega-3 should not be underestimated. Some 20 months
post patent expiry, we are still the only player in the market", says CEO Morten
Jurs.
The terms of the deals announced today are confidential.
----------ends------------
About Pronova BioPharma
Pronova BioPharma is a global leader in research, development and manufacture of
lipid therapies derived from nature.
Omacor®, also known as Lovaza(TM) in the US market, and Zodin®, Seacor®,
Esapent®, and Eskim® elsewhere, is the first commercialised product developed
from Pronova BioPharma's active pharmaceutical ingredient (API).
It is also the first and only EU and U.S. FDA-approved Omega 3-derived
prescription drug. Pronova BioPharma estimates that 1.4 million cardiovascular
patients, with high elevated levels of triglycerides and/or having suffered a
heart attack, are currently on a prescription for one of the branded products
containing its API.
Marketing and distribution of Pronova BioPharma's key product is currently
licensed to both local and global pharmaceutical companies. In 2009, the product
reached blockbuster status with sales over USD 1 billion in the current 8 major
markets and in 2010 it grew a further 19 percent to USD 1 260 million in 2010,
according to IMS Health. It is currently marketed in 56 countries with pending
regulatory approval in a further 36 countries.
Pronova BioPharma is developing several new, patentable lipid derivatives. The
most advanced Lipid Derived Pharmaceutical programme is in the area of
dyslipidemia, the abnormal concentration of lipids or lipoproteins in the
blood.
Pronova BioPharma's headquarters are located at Lysaker in Norway, while
production takes place in manufacturing facilities at Sandefjord in Norway and
in Kalundborg, Denmark. The company's shares are listed on Oslo Børs with the
ticker code PRON.
For further information contact:
Hamed Brodersen, VP Investor Relations and Communications Tel:
+47 40 46 81 10
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Pronova BioPharma ASA via Thomson Reuters ONE
[HUG#1510322]
Unternehmensinformation / Kurzprofil:
Datum: 28.04.2011 - 16:05 Uhr
Sprache: Deutsch
News-ID 54019
Anzahl Zeichen: 5257
contact information:
Town:
Lysaker
Kategorie:
Business News
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"Pronova BioPharma renews supply agreements for the Italian market"
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