Enzymatica signs agreement with Actavis for ColdZyme in the Nordic region
Enzymatica and the international pharmaceuticals company, Actavis, have signed a letter of intent on the sale of Enzymatica’s cold treatment product, ColdZyme® Mouth Spray, on the Nordic market. Under the agreement, ColdZyme Mouth Spray will be on sale in around 3,200 pharmacies and a large number of stores, including health food retailers, in the Nordic region.
Under the letter of intent, Actavis ColdZyme Mouth spray will be licensed for distribution and sale in Sweden, Denmark, Finland, Norway and Iceland. Actavis anticipates launching ColdZyme for sale in Sweden during the second half of 2013, and in the other Nordic countries during 2014. It is conservatively estimated that ColdZyme Mouth Spray will achieve net sales totalling SEK 350-400 million in the Nordic retail sector over the next five years. The deal between Enzymatica and Actavis is expected to be finalised by the end of June this year at the latest.
”This is our greatest commercial breakthrough so far – Actavis’ substantial investment in marketing and sales will enable us to reach right across the Nordic market, both in pharmacies and in the health food sector,” says Michael Edelborg Christensen, CEO of Enzymatica.
Under the terms of the agreement, Actavis will invest massively in the marketing of ColdZyme. Actavis is planning to invest the same amount in marketing ColdZyme as they have done in their largest brands, Flux and Decubal, over a five-year period, and will earmark significant sales and distribution resources for ColdZyme in the Nordic market.
“We are delighted with this agreement. In a very short time, Enzymatica has demonstrated that their ColdZyme mouth spray is an excellent option for the prevention and treatment of the common cold, not least through agreements with several chains of pharmacies. We are now planning a very strong market launch of the product in the Nordic region ,” says Magnus Nylen, Nordic Marketing Director OTC at Actavis.
The potential market for ColdZyme Mouth spray is massive. The common cold is one of our most widespread diseases. In the Nordic countries, with a combined population of around 25 million, there are 75 million incidents of the common cold every year (source: the Swedish Institute for Communicable Disease Control). Enzymatica estimates the potential market in the Nordic region at around 25 million infections, which is equivalent to one-third of the incidence of the common cold treated with some form of preparation today. The annual value of the OTC market for Cold treatments in the Nordic region is estimated at around SEK 2.1 billion, and the annual growth rate is 5 percent (source: Euromonitor/IMS).
ColdZyme® Mouth spray was registered with the Swedish Medical Products Agency as a class 1 medical product in August 2012. The product is intended to be used to prevent colds, but it can also shorten the duration of the disease if the spray is used from an early stage of the infection. One of the ingredients in the mouth spray is an enzyme from deep-sea cod, which has proven to have very good therapeutic qualities. During the first quarter of 2013, ColdZyme went on sale at the outlets of the Kronans Droghandel and Apotek Hjärtat chains of pharmacies in Sweden, alongside earlier sales in health stores.
Enzymatica, which is currently listed on the Aktietorget stock exchange, announced in April hat the company is planning to change lists and has decided to begin the rocess of listing on NASDAQ OMX tockholm Stock Exchange during the first six onths of 2014. The listing on the Stockholm Stock is central to Enzymatica’s nternational expansion.
For more information, please contact:
Michael Edelborg Christensen, CEO Enzymatica AB (publ), + 46 (0)768-14 41 66, michael.christensen@enzymatica.se
Magnus Nylen, Nordic Marketing Director OTC, + 46 (0)705-14 84 94,
MNylen@actavis.se
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