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05.02.2013

Pharmasyntez to market and distribute Oasmia Pharma's cancer drug, Paclical in Russia and CIS countries

Oasmia Pharmaceutical, a Sweden-based company develops new generations of drugs within human and veterinary oncology, and Pharmasyntez, one of the ten biggest pharmaceutical companies in 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.

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 (MoU) regarding product development was signed in 2012.

The Russian market within the segment comprising Paclical exceeds US$ 600 million and is growing steadily.

Julian Aleksov, CEO of Oasmia said, “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.”

Vikram S. Punia, president OAO of Pharmasyntez said “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.”

Oasmia has initiated the process for market authorization in Russia for 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.

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.

Pharmasyntez specializes in drugs against tuberculosis, but also manufactures antibiotics and solutions for infusions.

Source:  www.pharmabiz.com

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