Business
Cipher Pharmaceuticals completes Latin American distribution and supply agreement for extended-release tramadol
Toronto Stock Exchange Symbol: DND MISSISSAUGA, ON, April 29, 2013 /CNW/ - Cipher Pha...
About this update from Cipher Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\n\n\nToronto Stock Exchange Symbol: DND\n\n\nMISSISSAUGA, ON, April 29, 2013 /CNW/ - Cipher Pharmaceuticals Inc.\n (TSX: DND; OTC: CPHMF) today announced it has entered into a definitive\n distribution and supply agreement with Tecnofarma International Ltd.\n (\"Tecnofarma\") under which Cipher has granted Tecnofarma the exclusive\n right to market, sell and distribute CIP-TRAMADOL ER in Latin America.\n Tecnofarma, headquartered in Uruguay, operates in 18 Latin American\n countries and will launch the product in certain territories, including\n Brazil and Mexico.\n\n\nCIP-TRAMADOL ER is a patent-protected, extended-release formulation of\n tramadol, which is used for the treatment of moderate to moderately\n severe chronic pain in adults. The product received approval from the\n U.S. Food and Drug Administration in 2010.\n\n\n\"Completing this agreement demonstrates progress with our strategy to\n extend the reach of our currently marketed products and generate\n additional revenue streams,\" said Larry Andrews, President and Chief Executive Officer of Cipher\n Pharmaceuticals. \"Tecnofarma is a significant player in the region with\n deep experience in pain management, which positions them well to\n introduce our extended-release tramadol product in key Latin American\n markets.\"\n\n\nUnder the terms of the agreement, Cipher will receive an upfront payment\n and is eligible for additional milestones based upon regulatory\n approval in Brazil and Mexico. Cipher will supply product to\n Tecnofarma. Product manufacturing will be fulfilled by Cipher's\n partner, Galephar Pharmaceutical Research.\n\n\nAbout Cipher Pharmaceuticals Inc.\n\n\nCipher Pharmaceuticals (TSX: DND; OTC: CPHMF) is a growing specialty\n pharmaceutical company with three commercial products and a fourth in\n development. Our product candidates are typically improved formulations\n of successful, currently marketed drugs. We in-license a product,\n manage the required clinical development and regulatory approval\n process, and either out-license it to a marketing partner, or, in\n Canada, we may choose to market the product ourselves. Our core\n capabilities are in clinical and regulatory affairs, product licensing,\n supply chain management, and marketing and sales. Since the Company was\n founded in 2000, we have achieved final regulatory approval in ...