Healthcare Industry News: Meda AB
News Release - May 10, 2007
Meda Acquire Rights to the First Combination of an NSAID (Ketoprofen) and a Proton Pump Inhibitor (Omeprazole)STOCKHOLM, Sweden--(HSMN NewsFeed)--Meda (STO:MEDAA) and Ethypharm, a French development company, signed an exclusive 15-year agreement for an innovative combination product within the pain and inflammation therapy area (TA). The product consists of these well-recognised substances: omeprazole (proton pump inhibitor) and ketoprofen (NSAID). By using this novel product, patients can avoid serious gastrointestinal problems - a common NSAID side effect. Better improved compliance through once daily presentation.
The agreement includes most European markets; Germany, Spain, and the UK are the largest. An increase in Europe's aging population parallels an increase in rheumatic diseases. So the new product's potential is high.
A product registration application has been submitted. Meda is paying EUR 2 million after signing for the marketing rights, and it will pay up to an additional EUR 5 million in milestone payments when authorities approve registration and when specified sales levels are reached. No additional milestone payments will be made after sales reach EUR 55 million.
The product comes in a capsule that contains ketoprofen (sustained-release granulate) and omeprazole (enteric-coated granulate). And thanks to Ethypharm's pharmaceutical technologies, a unique, one-dose formulation was developed. Ketoprofen is a non-steroidal anti-inflammatory drug (NSAID) mostly used for rheumatic disorders. Omeprazole is an acid-reducing proton pump inhibitor for protection against mucosal injuries.
"This new product will greatly aid patients who currently need two medications to avoid side effects from using NSAIDs," says Anders Lonner, Meda's CEO. "The agreement between Meda and Ethypharm fortifies Meda's position within the high-priority pain and inflammation TA - an area in which Meda already holds a strong position with several well-established products."
" The reason why we selected Meda before many other competitors is Meda's pan-European coverage and strong marketing organisation in the pain area," says Gerard Leduc, Ethypharm's president.
Meda AB (publ) 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 has its own affiliates in 25 countries and more than 1,000 employees within marketing and sales. The Meda share is listed under Large Cap on the OMX Nordic Stock Exchange. Find out more, visit www.meda.se.
Source: Meda AB
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