Healthcare Industry News: SkyePharma
News Release - September 27, 2007
Flynn Pharma Acquires Rights From Pacira Pharmaceuticals to DepoDur(R), the Only Extended-Release Epidural Opioid for Post-Operative Pain, in EuropeHITCHIN, England, and SAN DIEGO, Sept. 27 (HSMN NewsFeed) -- Flynn Pharma Limited, a specialty pharmaceutical company focused on acquiring and commercializing proprietary products in secondary healthcare and related markets, today announced it has acquired exclusive marketing and distribution rights to DepoDur® (morphine sulphate extended release liposome injection) for Europe and a number of other markets from San Diego-based Pacira Pharmaceuticals.
Pacira Pharmaceuticals, a former business unit of SkyePharma, PLC, is an independent private company focused on developing and manufacturing controlled-release injectable products based on their DepoFoam® and Biosphere® drug delivery platforms.
DepoDur, which utilizes the DepoFoam technology, is a novel, single dose extended-release formulation of morphine. A single injection of DepoDur into the lumbar epidural space may provide pain relief for up to 48 hours following major surgery without the restrictions and potential complications associated with an indwelling epidural catheter. DepoDur is the only opioid approved in Europe (UK, MHRA, 2006) for epidural use. In the US, DepoDur is marketed by EKR Therapeutics, Inc.
"We are pleased to add an innovative product like DepoDur to our growing hospital product portfolio." said David Walters, Director of Flynn. "DepoDur is consistent with, and complementary to, our model of adding products for the secondary healthcare markets."
Fred Middleton, Pacira's Chairman of the Board commented, "In DepoDur, Flynn Pharma will have a new foundation on which to continue building their hospital franchise. Through the use of Pacira's extended-release injectable technology, DepoFoam, DepoDur supports the sustained release of epidural morphine to provide up to 48 hours of post-surgery pain relief, when most pain can then be satisfactorily controlled with oral analgesics. In addition, there are an estimated 5 million surgical procedures in Europe where DepoDur can be used to manage post-operative pain in hospitalised patients. With a proven technology, a large market opportunity, and Flynn's strong presence in hospitals, we look forward to having Flynn as our commercial marketing partner expanding DepoDur's use into Europe."
David Walters further noted, "Flynn is starting the launch process, including meetings with key opinion leaders, and we expect to have our UK sales force fully supporting DepoDur early in 2008." He concluded, "We are very optimistic about Flynn's growth prospects in 2008 and beyond as we plan DepoDur's market penetration in Europe. We are actively planning to take the product beyond the UK through the mutual recognition procedure and have initiated the search and selection of marketing partners in Europe. This is the second new product Flynn will have launched into the hospital market following the successful launch of Medikinet® XL in March 2007."
About Flynn Pharma Limited
Flynn Pharma focuses on the acquisition, development and commercialisation of proprietary products for the secondary healthcare and related markets, including oncology and CNS therapeutics. Flynn's goal is to be the foremost European provider of specialty products in these targeted and underserved therapeutic categories. In the last few years, Flynn has been restructured and financed to pursue an aggressive and rapid growth strategy in these sectors, offering superior customer service and value growth for our shareholders. For additional information about Flynn visit the Company's website at http://www.flynnpharma.com.
About Pacira Pharmaceuticals, Inc.
Pacira Pharmaceuticals, Inc. is a wholly owned subsidiary of Pacira Inc., a Delaware corporation, which is controlled and funded by a group of financial investors including Sanderling Ventures, HBM Bioventures (Cayman) Ltd, OrbiMed Advisors, and MPM Capital. This business is based in San Diego, CA, and focuses on formulating, developing and manufacturing controlled-release injectable products based on two proprietary drug delivery platforms: DepoFoam® and Biosphere®. Revenues are generated from two marketed products: DepoCyt® for lymphomatous meningitis and DepoDur® for the treatment of post-surgical pain. For additional information about Pacira visit the Company's website at http://www.pacira.com
Source: Pacira Pharmaceuticals
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