New agreements increase iNova product offerings in Asia

28 April 2009
iNova Pharmaceuticals (“iNova”), a company steadily growing in the Asia-Pacific and South Africa regions, has acquired the rights to a range of topical skin products within Asia, as well as a prescription pain relief medicine, under two new separate agreements.
A distribution agreement between Almirall and iNova Pharmaceuticals (Australia) Pty Limited gives iNova associated companies in Asia and their local partners exclusive rights to promote, market and distribute a broad range of Almirall owned products in Singapore, Hong Kong, Malaysia and Thailand. These include prescription acne and wart solution treatments in addition to a diverse over-the-counter (OTC) skin care range of formulations for dry and sensitive skin types.

iNova expects these products will be available for sale by mid 2009 in each of the four countries once regulatory notification of the license transfer to iNova is complete.

Under a separate exclusive distribution and license agreement with Labopharm, iNova also has the rights to make available a once daily, extended release tablet formulation containing the active tramadol hydrochloride for pain management in Singapore, Hong Kong, Malaysia, Philippines, Thailand, Taiwan and Indonesia.

Preparations have begun to file registration applications for this prescription therapy in each of these countries. This follows registration in Australia where iNova first launched the once daily tramadol product and achieved Government subsidisation in 2008.

iNova Chief Executive Officer Andrew Howden said “Our strategic focus is to create patient value with a strong pipeline from in-licensing, acquisitions and in-house product development and manufacturing, expanding geographical reach and implementing high quality sales and marketing.”

“Speed and simplicity in our operations are paramount for timely product launches and we are well positioned to act quickly in a changing environment. Our flexible business model and infrastructure allows us to partner readily with other companies in bringing new products to Australasia, Southern Africa and the fast growing Asia-Pacific region,” he said.

iNova Chief Operating Officer Chris van Niekerk said, “The Almirall range and once daily tramadol product increase our product offerings in several Asian countries and will be supported by effective marketing strategies, sales tactics and an efficient distribution network to generate maximum growth in these markets.”

“As we progress the registration and commercialisation of these new offerings, iNova looks forward to further opportunities with companies who are looking for a partner with well established business development, registration and marketing capabilities to commercialise their healthcare products,” he said.

For further information contact:
Athena Kolivos 0412 857 698

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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.

Further information is available at www.inovapharma.com


Almirall:

Almirall is an international pharmaceutical company that researches, develops, produces and markets proprietary research and development (R&D) and licensed medicines. Headquartered in Barcelona, Spain, Almirall aims to consolidate itself as a pan-European benchmark pharmaceutical company. With products in over 70 countries and a direct presence in Europe and Latin America, the therapeutic areas for which Almirall focuses research resources include asthma, COPD (chronic obstructive pulmonary disease), rheumatoid arthritis, multiple sclerosis, psoriasis and dermatology.

Almirall’s research and development policy focuses on discovering innovative drugs, both through its own research projects and with other companies and research centres. The company works to strengthen its position in countries where it already has affiliates - Austria, Belgium, France, Germany, Italy, Mexico, Poland, Portugal, Spain, Switzerland and United Kingdom-Ireland - and analyses investment opportunities in other markets, in addition to forming strategic alliances with other international pharmaceutical companies.

Almirall’s three basic strategic premises are to foster its R&D as growth driving, strengthen its international presence and maintain leadership in the Spanish market.

Further information is available at www.almirall.com


Labopharm Inc:

Labopharm is an emerging leader in optimising the performance of existing small molecule drugs using its proprietary controlled-release technologies. The Company's lead product, a novel once-daily formulation of tramadol based on its proprietary Contramid® technology, is being commercially launched in key markets globally. The product is currently marketed in Europe, Canada, Australia and South Korea and recently achieved registration approval in the US. Licensing and distribution agreements are in place for a number of other markets globally. Labopharm is rolling out this product on a region by region basis and currently has partnering opportunities available in the United Kingdom, Germany, Scandinavia, Netherlands, Latin America, Asia, Middle East and Africa.

With a robust pipeline of follow-on products in both pre-clinical and clinical development, Labopharm's vision is to become an integrated, international, specialty pharmaceutical company with the capability to internally develop and commercialise its own products.

Further information is available at www.labopharm.com

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