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Eurand Announces International Agreements for Once-Daily Extended Release Muscle Relaxant
(Marketwire Via Acquire Media NewsEdge) MILAN, ITALY, March 17 / MARKET WIRE/ --
Eurand N.V. (NASDAQ: EURX), a specialty
pharmaceutical company that develops, manufactures and commercializes
enhanced pharmaceutical and biopharmaceutical products based on its
proprietary pharmaceutical technologies, announced today that Eurand Inc.
has signed three new commercialization, license and supply agreements for
its novel extended-release (ER) formulation of the muscle relaxant
cyclobenzaprine HCl. Financial terms were not disclosed.
The respective pharmaceutical partners will be commercializing the product,
subject to regulatory review and approval, in the following countries:
-- TURKEY - Nobel Ilac A.S.
-- ISRAEL - PharmaSwiss SA
-- SOUTH AFRICA - Adcock Ingram
"These agreements represent important milestones in expanding Eurand's
cyclobenzaprine ER franchise into new territories," said John Fraher,
Eurand's Chief Commercial Officer.
As announced in August 2008, Eurand signed a license and supply agreement
with Daewoong Pharmaceuticals Co. Ltd, a leading South Korean
pharmaceutical company. Under terms of the agreement, Daewoong will
commercialize cyclobenzaprine ER in South Korea, subject to regulatory
approval.
Developed using Eurand's innovative Diffucaps? technology,
cyclobenzaprine ER is a centrally acting muscle relaxant indicated as an
adjunct to rest for the relief of muscle spasm associated with acute,
painful musculoskeletal conditions. Cephalon markets the product in the
U.S. under the brand name Amrix?. Cyclobenzaprine ER is available for
licensing in certain other countries.
About Nobel Ilac
Nobel Ilac A.S. is one of the leading pharmaceutical companies in Turkey
with successful marketing and sales strategies in the domestic and
international market, supported by a vertical integration of developing and
manufacturing API (active pharmaceutical ingredients) and pharmaceuticals.
The product portfolio of Nobel comprises self-developed/manufactured
pharmaceuticals, in-licensed pharmaceuticals and OTC products. Nobel is
also one of the main exporters of pharmaceuticals in Turkey. With 2200
employees throughout its subsidiaries in 15 countries, Nobel is outstanding
with its global structure through which it offers its high quality services
and products as it does in Turkey. For more information, visit
www.nobel.com.tr/en/.
About PharmaSwiss SA
Established in 2000 and based in Zug, Switzerland, PharmaSwiss offers full
third-party representation of specified drugs or portfolios from
research-based pharmaceutical and biotech companies, including drug
registration, promotion, sales, compliance and pharmacovigilance. It
represents several blue chip clients such as Amgen, Bristol-Myers Squibb,
Wyeth Pharmaceuticals, Ipsen, Astellas Pharma, Eli Lilly and Ferring.
PharmaSwiss currently operates in Serbia, Croatia, Slovenia, Poland, Baltic
countries, Czech Republic, Hungary, Romania, Bulgaria, Slovakia, Albania,
Greece, Turkey and Israel. During the course of 2008, PharmaSwiss has
launched operations in Hungary, Romania and Turkey and during 2009 in
Poland. Development plans for the following years include also entering
Russia and CIS. The company has nearly 600 employees and achieved turnover
of EUR 132 million in 2008. For more information, visit
www.pharmaswiss.com.
About Adcock Ingram
Adcock Ingram is a leading South African pharmaceutical company with a
history that spans 117 years of adding value to the lives of millions of
South Africans. The company has an extensive range of prescription,
generic and OTC products and also provides life saving hospital equipment,
diagnostic products and services. The extensive range of over-the-counter
and prescription products of original research and generic medicines was
recently enhanced by the addition of a range of generic antiretroviral
medicines. The company's in-house research and development facilities are
approved by the South African Medicines Control Council and accredited by
the World Health Organisation. The company is extending its footprint in
Sub-Saharan African and international markets. For more information, visit
www.adcock.co.za.
About Eurand
Eurand is a specialty pharmaceutical company that develops, manufactures
and commercializes enhanced pharmaceutical and biopharmaceutical products
based on its proprietary drug formulation technologies. Eurand has had
four products approved by the FDA since 2001 and has a pipeline of product
candidates in development for itself and its collaboration partners. Its
technology platforms include bioavailability enhancement of poorly soluble
drugs, custom release profiles, taste-masking orally disintegrating tablet
(ODT) formulations, and drug conjugation.
Eurand is a global company with facilities in the U.S. and Europe. For
more information, visit Eurand's website at www.eurand.com.
Forward-Looking Statement
This release, and oral statements made with respect to information
contained in this release, may constitute forward-looking statements. Such
forward-looking statements include those which express plan, anticipation,
intent, contingency, goals, targets or future development and/or otherwise
are not statements of historical fact including, but not limited to the
future and status of the Company's partnering plans for its products and
anticipated product launches. The words "potentially," "anticipates,"
"could," "calls for" and similar expressions can also help identify
forward-looking statements. These statements are based upon management's
current expectations and are subject to risks and uncertainties, known and
unknown, which could cause actual results and developments to differ
materially from those expressed or implied in such statements. Investors
are advised to refer to the Company's Risk Factors set forth in its Annual
Report on
Form-20-F as filed with the U.S. Securities and Exchange Commission.
Forward-looking statements contained in this press release are made as of
this date, and the Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information, future
events or otherwise. Actual events could differ materially from those
anticipated in the forward-looking statements.
Contacts:
Bill Newbould
Vice President, Investor Relations
Eurand N.V.
+1 267-759-9335Email Contact
Nick Laudico/Sara Ephraim
The Ruth Group
+1 646-536-7030/7002Email Contact/Email Contact
Copyright ? 2009 Marketwire
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