Healthcare Industry News: Pain Therapeutics
News Release - January 3, 2007
Victory Pharma, Inc. Signs NAPRELAN(R) Agreement; US Field Sales Force to ExpandSAN DIEGO, Jan. 3 (HSMN NewsFeed) -- Victory Pharma, Inc. today announced an agreement with Hi-Tech Pharmacal Co., for the exclusive U.S. commercial license rights to NAPRELAN®. NAPRELAN® is a proprietary once-a-day formulation of naproxen sodium indicated for the treatment of rheumatoid arthritis, osteoarthritis, ankylosing spondylitis, tendonitis, bursitis, acute gout, primary dysmenorrhea, and mild to moderate pain. The product will be marketed through Victory's physician-based field sales force deployed throughout the U.S.
"The market need for differentiated Pain Therapeutics is significant. Victory is excited to promote NAPRELAN® due to the well known efficacy and safety profile of its active ingredient, naproxen sodium, with the added benefit of once-a-day dosing," said Matt Heck, President of Victory Pharma, Inc. "NAPRELAN® is currently the only once-a-day formulation of this particular non-steroidal anti-inflammatory agent, which the Company believes will significantly improve dosing compliance for patients suffering from pain."
Concurrent with this agreement, Victory Pharma, Inc. is immediately completing an expansion of its US-based sales force. The sales organization currently promotes other branded pain and related products to health care providers. Promotion of NAPRELAN® is expected to initiate during the first quarter of 2007. Victory Pharma, Inc. intends to gain further promotional reach for NAPRELAN® to additional specialties through US partnerships.
About Victory Pharma, Inc.
Victory Pharma, Inc. is a private San Diego based specialty pharmaceutical company focused on acquiring, marketing and developing proprietary late stage pain and related products. Victory markets its existing pain products through its physician-based field sales force deployed throughout the U.S. The Company is developing several products in pain and pain complementary markets including MGX-001, for treatment of chronic severe pain and a commonly associated opiate-induced side effect. MGX-001 is currently in Phase II clinical testing in the United States. Further information regarding Victory is available at www.VictoryPharma.com.
Hi-Tech is a specialty pharmaceutical company developing, manufacturing and marketing branded and generic products. The Company specializes in difficult to manufacture liquid and semi-solid dosage forms and produces a range of sterile ophthalmic, otic and inhalation products. The Company's Health Care Products Division is a leading developer and marketer of branded prescription and OTC products for the diabetes marketplace.
Source: Victory Pharma
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