Oasmia signs marketing and distribution agreement for product candidate Paclical® in Russia and CIS countries
4 Feb, 2013 08:30 CET
Oasmia Pharmaceutical AB
Company Announcement
Oasmia signs marketing and distribution agreement for product candidate
Paclical® in Russia and CIS countries
Oasmia Pharmaceutical, based in Uppsala, Sweden, and Pharmasyntez, based in
Irkutsk, Russia, have entered into an exclusive marketing and distribution
agreement concerning Oasmia's product candidate Paclical, for the treatment of
ovarian cancer, lung cancer and second line breast cancer.
Uppsala, Sweden, 2013-02-04 08:30 CET (GLOBE NEWSWIRE) --
Pharmsyntez obtains exclusive marketing and distribution rights in Russia and
the countries encompassed by the Commonwealth of Independent States (CIS), and
the agreement includes profit sharing on net sales in the region between the
two companies.
Within the framework of this collaboration, Pharmasyntez will finance all
marketing and sales activities, and Oasmia is responsible for product
development and manufacturing. A Memorandum of Understanding regarding product
development was signed in 2012.
The Russian market within the segment comprising Paclical exceeds 600 million
USD and is growing steadily.
- This agreement is a very important step in Oasmia’s business strategy. New
and emerging markets are key areas and we have invested a lot of resources into
the Russian market. Pharmasyntez has extensive knowledge of the Russian market
and this company is the ideal partner for us. We are putting great faith in the
fact that this collaboration will be very beneficial for both parties, said
Julian Aleksov, CEO of Oasmia.
- The Pharmasyntez oncology therapeutic segment is a strategically important
segment. We are one of few Russian Pharmaceutical companies who are committed
in research and development of new chemical entities and innovative and novel
drugs. So, this agreement with Oasmia suits our philosophy, commitment and
product portfolio. We expect to have a very successful business for Paclical in
Russian Federation, said Vikram S. Punia, President OAO of Pharmasyntez.
Oasmia has initiated the process for market authorization in Russia for
Paclical.
About Paclical®
Paclical is a novel nanoparticle formulation composed of Oasmia
Pharmaceutical's patented excipient XR-17 and the anti-cancer substance
paclitaxel. XR-17 can be used to improve the solubility of substances, such as
paclitaxel, one of the most frequently used chemotherapeutic substances in the
world. Many drugs based on paclitaxel are dissolved in lipid soluble
formulations, which are associated with a range of side-effects. These can
usually be controlled with pre-medication. The main indications are ovarian
cancer, lung cancer and second line breast cancer.
About Oasmia Pharmaceutical AB
(NASDAQ OMX: OASM) (General Standard of Frankfurt Stock Exchange: OMAX, ISIN
SE0000722365) Oasmia Pharmaceutical AB develops new generations of drugs within
human and veterinary oncology. The Company’s product development aims to create
and manufacture novel nanoparticle formulations and drug-delivery systems based
on well-established cytostatics which, in comparison with current alternatives,
show improved properties, reduced side-effects, and expanded applications. The
Company’s product development is based on its proprietary in-house research and
company patents. The Company’s common stock is listed on NASDAQ OMX Stockholm
and the Frankfurt Stock Exchange.
About Pharmasyntez
The company was founded in 1997 and is now one of the ten biggest
pharmaceutical companies in Russia. Pharmasyntez specializes in drugs against
tuberculosis, but also manufactures antibiotics and solutions for infusions.
Furthermore, the company cooperates with a number of leading institutes and
universities in Russia.
Johan Edin, acting Head of Public Relations, Oasmia Pharmaceutical AB.
E-mail: Phone: +46 (0) 18 50 54 40. German contact: Dr. Sönke
Knop, Peggy Kropmanns, edicto GmbH, Frankfurt E-Mail: Phone:
+49 (0) 69 90 55 05 51. www.oasmia.com www.nasdaqomxnordic.com
www.boerse-frankfurt.de twitter.com/oasmia