Leading iNova products to enter new Asian markets
22 September 2009
iNova Pharmaceuticals (“iNova”), a growing company in the Asia-Pacific and South Africa regions, headquartered in Sydney, signed a Licence and Supply Agreement to make available leading brands from its consumer healthcare and prescription ranges in two new Asian markets.
These include select Difflam® lozenge, solution and spray products, as well as specialty prescription medicines in weight management, skin cancer and sexual health therapy areas.
Under the agreement iNova will supply product to specialty pharmaceutical company Hyphens Marketing and Technical Services Pte Ltd, which has exclusive rights to register and market iNova Trade Mark brands in Vietnam and Cambodia.
Vietnam in particular is a growing market for pharmaceuticals, and has been flagged as an important “pharmerging” market for establishing operations through partnerships between local and other pharmaceutical companies globally.
Preparations for registration applications in these two countries are expected to start soon and, once registered, Hyphens as the local Market Authorisation Holder will launch and promote the iNova Trade Mark brand products.
iNova Chief Executive Officer Andrew Howden said “A core strategic focus is to expand our product offerings within the Asia-Pacific by partnering with local companies who have the knowledge and expertise to successfully commercialise products in established and emerging markets.”
“Our flexible business model and infrastructure allows iNova to readily partner with other companies in bringing valued products to new markets quickly and to operate with speed and simplicity in generating maximum growth,” he said.
The Agreement brings well established iNova brands into two new markets where the company has not previously had a presence, further broadening their marketing and distribution networks for commercialising healthcare products.
“In expanding our geographical reach, we are pleased to be working with Hyphens, which is well placed to act quickly in registering and launching new brands in Southeast Asia and has a solid track record supporting them with effective sales and marketing operations,” Mr Howden said.
The agreement follows several partnership deals iNova achieved earlier this year to make both in-house developed and in-licensed brands available in an increasing number of countries within Asia-Pacific, Australasia and Southern Africa.
“As a high growth company with a proven track record developing, registering and marketing leading pharmaceutical brands, iNova looks forward to further opportunities with companies wanting to enter partnerships to commercialise products,” Mr Howden said.
Media contact: Athena Kolivos 61 (0) 412 857 698
Further information is available at www.inovapharma.com
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iNova Pharmaceuticals:
iNova Pharmaceuticals (Australia) Pty Limited is an Australian owned and operated pharmaceutical company that is the corporate headquarters for iNova Pharmaceuticals (“iNova”) operations. iNova has leading consumer healthcare and specialty prescription brands in over 15 countries, including Australia, New Zealand, Asia Pacific and Africa regions. The company’s product portfolio includes in-licensed and in-house developed drugs in pain management, allergy, dermatology, sexual health, weight management, cardiology and respiratory health.
Borne out of more than 50 years heritage from Riker Laboratories and 3M Pharmaceuticals following the November 2006 purchase of 3M’s Asia-Pacific pharmaceutical business by Australian private equity firms Archer Capital and Ironbridge Capital, iNova has a broad spectrum of capabilities to extend product brands into new and existing markets. These include high quality sales and marketing execution, in-licensing, developing and acquiring products, alongside manufacturing, quality and regulatory processes.
In addition to its own dedicated business units, iNova works in partnership with external parties. These include sales and marketing business partners and pharmaceutical companies in other countries to make products available to the broader global community. iNova is able to successfully launch products (licensed-in or developed in-house) throughout southeast Asia and South Africa in Australia and New Zealand and also exports to countries such as Japan, Korea and China.
Fundamental to iNova’s future product pipeline will be new opportunities bringing patient and consumer value in selected therapy areas. With its flexibility, established infrastructure and proven track record, iNova is an attractive licensing partner for companies planning to enter the Asia-Pacific and Africa regions.
Hyphens Marketing & Technical Services Pte Ltd:
Hyphens is a specialty pharmaceutical company focused on the sales and marketing of innovative human health care products in Southeast Asia. With regional headquarters in Singapore and local offices in Cambodia, Indonesia, Malaysia, the Philippines and Vietnam, Hyphens has successfully launched numerous key products. The company's core therapeutic areas include allergy & otolaryngology, gastroenterology, obstetrics & gynecology, ophthalmology and radiology.
Positioned as a gateway to the Southeast Asia market, Hyphens is a SME500 company in Singapore that has more than tripled its sales revenue in the past 8 years. Employing a dedicated team of experienced pharmaceutical industry veterans and energetic young professionals, Hyphens winning strategy combines its core function as a regional Sales & Marketing Organization (SMO) with a "Search and Develop" model that has a proven track record in attracting scores of our current principals.
Indeed, Hyphens partners and forms strategic alliances with a host of companies from Australia, Europe and the USA, and consequently has well established experience with both multi-national and mid-size pharmaceutical companies that adds value to future collaborations.
Further information is available at www.hyphens.com.sg