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Cipher Pharmaceuticals and Ranbaxy Announce Distribution Agreement for Isotretinoin Product in Brazil
MISSISSAUGA, ON , July 24, 2014 /CNW/ - Cipher Pharmaceuticals Inc. (TSX: DND) today ann...
About this update from Cipher Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\nMISSISSAUGA, ON, July 24, 2014 /CNW/ - Cipher Pharmaceuticals Inc. (TSX:\n DND) today announced it has entered into a definitive distribution and\n supply agreement with Ranbaxy Laboratories Ltd. (\"Ranbaxy\") under which\n Cipher has granted Ranbaxy the exclusive right to market, sell and\n distribute Cipher's isotretinoin capsules in Brazil. This agreement\n extends the current relationship with Ranbaxy, which markets and\n distributes Cipher's isotretinoin product in the United States under\n the brand Absorica™.\n\n\nRanbaxy plans to promote the product through a brand dermatology\n division in Brazil. Cipher's isotretinoin formulation is expected to be\n a flagship product in Ranbaxy's dermatology franchise in Brazil, once\n it achieves regulatory approval.\n\n\n\"Ranbaxy has been an excellent partner on our isotretinoin product and\n is a logical choice to commercialize it in Brazil,\" said Shawn O'Brien,\n President and Chief Executive Officer of Cipher Pharmaceuticals.\n \"Brazil is the largest isotretinoin market in Latin America, with\n annual sales exceeding CDN$50 million, and the market has been growing\n solidly, providing a compelling opportunity for our novel formulation.\"\n\n\nUnder the terms of the agreement with Ranbaxy, Cipher will receive an\n upfront payment and is eligible for additional pre-commercial milestone\n payments. Cipher will supply the product to Ranbaxy and product\n manufacturing will be done by Cipher's partner, Galephar Pharmaceutical\n Research. Ranbaxy will be responsible for all regulatory related\n activities associated with gaining and maintaining regulatory approval\n of the product in Brazil.\n\n\nCipher's isotretinoin product is a novel formulation of isotretinoin,\n which is used in the treatment of severe recalcitrant nodular acne.\n Isotretinoin is the most effective severe acne therapy available to\n teenagers who suffer from acne. The product is marketed in the United\n States as Absorica™ and in Canada as Epuris®.\n\n\nAbout Ranbaxy Laboratories Limited \nRanbaxy Laboratories Limited is an integrated, research based,\n international pharmaceutical company producing a wide range of quality,\n affordable generic medicines, trusted by healthcare professionals and\n patients across geographies. Ranbaxy's continued focus on R&D has\n...