Business
Spectral and Menarini sign European EAA(TM) distribution agreement
Spectral and Menarini sign European EAA(TM) distribution agreement.
About this update from Spectral Medical Inc
[{"type":"text","content":"\n\n\n\nTORONTO, May 22 /CNW/ - Spectral Diagnostics Inc. ("Spectral") today\nannounced the signing of a significant distribution agreement for its EAA(TM)\nproducts with A. Menarini Diagnostics Deutschland ("Menarini"), a division of\nthe German Berlin-Chemie AG belonging to the Italian Menarini Group.\n\n\nThe agreement covers Germany and includes an option to extend the\narrangement to the rest of Europe, excluding certain countries where Spectral\nalready has distribution agreements in place. The marketing launch of the\nEAA(TM) by Menarini is scheduled for the summer of 2007.\n\n\n"The alliance with Menarini is important because it provides the platform\nfor expansion in a major European market and the potential for expansion to\nnew geographies," stated Mr. Rob Verhagen, Vice President of Business\nDevelopment for Spectral. "Menarini's significant sales and marketing\nresources, and its broad geographic presence will be valuable as we increase\nour market in Europe," added Mr. Verhagen.\n\n\n"During the last few months there have been some very positive\ndevelopments in our EAA(TM) program. The utility of the assay has been\nconfirmed through data from a number of important clinical studies in various\nmedical applications, new commercial arrangements have been concluded and\nexisting business partnerships have been strengthened," stated Dr. Paul\nWalker, President and CEO of Spectral. "We are continuing to pragmatically\nbuild a strong business platform that will enable sustainable revenue growth\nover the near to mid-term," added Dr. Walker.\n\n\n"With 60.000 victims each year sepsis is third-most common cause of death\nin Germany. Also taking into consideration that the treatment of severe sepsis\nconsumes about one third of intensive care units' budgets in Germany ((euro)\n1.7 billion per year) the need for early detection of sepsis becomes evident,"\nstated Ulrich Schmid, General Manager of Menarini Diagnostics Germany. "The\nalliance with Spectral expands our competitive advantage in the highly\ncompetitive German diagnostic market."\n\n\nMenarini Diagnostics was founded in 1976 as a division of A. Menarini\nIndustrie Farmaceutiche Riunite of Florence, Italy, a multinational healthcare\ncompany with annual revenues of over 2.2 billion Eur...