Execution of a license agreement with EMS for Sitavig® in Brazil
BioAlliance Pharma SA (Euronext Paris - BIO), an innovative Company specialized in the development of drugs in orphan oncology diseases, today announced the signature of a license agreement for Sitavig® (acyclovir Lauriad®) with EMS S/A for commercialization rights in Brazil. Approved in the treatment of recurrent labial herpes, Sitavig® is already registered in the United States and in 10 major European countries.
EMS is established for 50 years and is the largest Brazilian pharmaceutical company, focused in the manufacturing and distribution of pharmaceutical products.
Under this agreement, EMS will support Sitavig® registration towards ANVISA, the Brazilian regulatory authority.
BioAlliance Pharma will receive revenues based on double digit transfer price, as well as some payments upon regulatory milestones.
This agreement is the first executed since BioAlliance Pharma received COFACE guarantee, that covers a large part of the costs related to such export activities in emerging countries.
This agreement is matching BioAlliance Pharma strategy aiming to optimize Sitavig® value and potential revenues through licensing agreements, while dedicating its efforts and resources on the development of the orphan oncology pipeline, growth driver of the company for the future.
“This new partnership with EMS marks an important achievement for the licensing strategy of Sitavig® with the opening of a new major territory. Indeed, the Brazilian pharmaceutical market is an emerging, very attractive market with $ 28.5 billion spending on medicines in 2012, and a sustainable 2-digits annual growth rate above 10% projected for 2013-2017”, comments Judith Greciet, CEO of BioAlliance Pharma. “We are very pleased and enthousiastic about this partnership with EMS, the professionalism and expertise of the teams make us highly confident on the future success of this collaboration”, adds Aude Michel, Head of Corporate Development of BioAlliance Pharma.
“With this new agreement, EMS demonstrates its forward thinking, complementing its portfolio with innovative technologies and providing opportunities to new products”, adds Marcus Sanchez, Vice-President of Institucional Marketing of EMS.