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Nycomed and Norgine sign a Licence Agreement for MOVIPREP® in Russia and the Commonwealth of Independent States (CIS)Nycomed and Norgine, a European specialty pharmaceutical company, today announced that they have entered into a licensing agreement that gives Nycomed the exclusive rights to commercialise MOVIPREP, the worlds leading bowel cleansing brand, in Russia, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Mongolia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.
Moviprep is an osmotic laxative for bowel cleansing prior to any clinical procedure requiring a clean bowel, such as colonoscopy. MOVIPREP will be subject to regulatory review and approval and Nycomed will conduct the necessary steps for approval. Financial details of the agreement were not disclosed.
We are very pleased to further expand our recently established gastrointestinal product portfolio with MOVIPREP," said Jostein Davidson, Senior Vice President, Nycomed Group, and President, Nycomed Russia-CIS. "MOVIPREP has proven to be the preferred choice for bowel preparation in EU and Nycomed is proud to make this product a success in Russia/CIS improving quality of life of millions of patients."
Norgine's CEO, Peter Stein said: "This is an important agreement for Norgine as it will mark our entry into this fast developing market. We look forward to working with Nycomed to capitalise on their extensive sales and distribution network to help realise MOVIPREP's potential in the CIS."
MOVIPREP is marketed by Norgine through its own Sales and Marketing organisation and by Salix Pharmaceuticals in the USA, by Medical Futures in Canada, by PharmaSwiss in Central and Eastern Europe and is under development with Ajinomoto in Japan.
Norgine is an independent, successful European speciality pharmaceutical company that has been established for over 100 years and has a presence in all major European markets. In 2010, Norgine's net product sales were €258 million. The Company employs over 1,200 people.
Norgine's focus is the development and marketing of pharmaceutical products that address significant unmet clinical needs in therapeutic areas such as gastroenterology, hepatology and supportive care. The Company currently markets a range of products in various markets in its key therapeutic areas e.g., MOVICOL® for the treatment of constipation and faecal impaction, MOVIPREP® a bowel cleansing preparation, KLEAN-PREP® for bowel preparation prior to colonoscopy, XIFAXAN® for the treatment of travellers diarrhoea and ORAMORPH® for the treatment of moderate to severe pain associated with cancer.
Norgine is active in research and development and currently has products in various stages of clinical development. Norgine manufactures most of its own products in Hengoed, UK and Dreux, France.
Nycomed is a privately owned global pharmaceutical company with a diversified portfolio focused on branded medicines in gastroenterology, respiratory and inflammatory diseases, pain, osteoporosis and tissue management. A range of OTC products completes the portfolio.
Its R&D is structured around collaborations. In-licensing and expanding in emerging markets are cornerstones of the company's growth strategy.
Nycomed employs 12,500 associates worldwide, and its products are sold in more than 100 countries. It has strong platforms in Europe and in fast-growing markets such as Russia/CIS, Latin America, Asia and the Middle East. In the US and Japan its products are available through best in class partners.
Headquartered in Zurich, Switzerland, the company generated total sales of € 3.2 billion in 2010 and an adjusted EBITDA of € 851 million.
Source: Nycomed and Norgine