Healthcare Industry News: Meda AB
News Release - August 3, 2006
Meda In-Licenses Innovative Pain Product from The U.S.STOCKHOLM, Sweden--(HSMN NewsFeed)--Aug. 3, 2006--Meda and BioDelivery Sciences International, Inc. ("BDSI"), a U.S. specialty pharmaceutical company, has signed an exclusive license agreement for BEMATM Fentanyl product in all European countries. The BioErodible Muco-Adhesive Disc ("BEMA") is a patented technology that was developed to enable efficient drug delivery. The technology consists of a thin disc that attaches to mucous membranes in the mouth. Medication is quickly absorbed in the blood to provide pain relief.
BEMATM Fentanyl is presently in Phase III, and being documented for treatment of acute breakthrough pain in cancer patients. The market segment potential is estimated to be worth around SEK 4 000 million. Meda plans to submit an application to the European authorities within 18-20 months. Meda paid USD 2.5 million and will pay up to an additional USD 7.5 million in milestone payments at specified development and commercialisation stages.
"Breakthrough pain is an increasing problem in, for example, cancer care," says Anders Lonner, Meda's CEO. "The European market for products that contain fentanyl is rapidly increasing. We have chosen the BEMATM technology because we believe it has the potential to offer important patient benefits compared to competing products. Meda's pan-European market coverage and expertise in the pain therapy area give the company a competitive edge."
"Our attraction to Meda from the outset was their focus in pain with such products as Zamadol (tramadol) and Relifex (nabumetone), their aggressive approach to the pain marketplace and their broad sales coverage in Europe," says Dr. Mark Sirgo, President and CEO of BDSI. "It is expected that Meda will use its expertise in pain management to participate in an estimated total market of over 1.3 million patients in Europe who suffer from cancer pain, of which a significant percentage experience breakthrough episodes."
Meda is a leading European specialty pharma company that concentrates on marketing and market-adapted product development. Acquisitions and long-term partnerships are fundamental factors that drive the company's strategy. Meda is represented in more than 20 countries and has about 900 employees within marketing and sales. The Meda share is quoted on the Stockholm stock exchange (Stockholmsborsen). Find out more, visit www.meda.se.
BioDelivery Sciences International Inc.
BioDelivery Sciences International, Inc. is a specialty pharmaceutical company that is focused on developing innovative products to treat acute conditions such as pain. The company utilizes its licensed and patented drug delivery technologies to develop and commercialize clinically-significant new products using proven therapeutics. The company's headquarters is located in Morrisville, North Carolina and its principal laboratory is located in Newark, New Jersey. For more information, please visit www.bdsinternational.com.
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