Oasmia Pharmaceutical enters into new exclusive marketing and distribution agreement concerning Russia and other CIS markets
June 14 2017 - 7:00AM
Oasmia Pharmaceutical AB (NASDAQ: OASM) has entered into a new
exclusive marketing and distributions agreement with Hetero Group
(Hetero) with the goal of driving revenue in Russia and other CIS
markets.
An international pharmaceutical company with 15,000 employees in
over 120 countries, Hetero is recognized for its strengths in
research, development, manufacturing and commercialization of a
wide range of products.
Under the agreement, Hetero will be responsible for the
marketing and distribution of Paclical in Russia and several other
markets spanning CIS markets, including Ukraine and Kazakhstan. The
relationship is a significant one for Oasmia, as Hetero possesses a
large distribution and sales operation in the region and will be
investing its own resources into the marketing of Paclical and
future Oasmia products Doxophos and Docecal, for which they have an
option to distribute. The terms in the agreement are similar to the
previous agreement for the region.
Oasmia and Hetero Group have also signed a letter of intent
regarding India and South America, which will be negotiated
separately.
“We welcome Oasmia and their diverse suite of oncology products
to our platform,” said Dr. Bandi Parthasaradhi Reddy, Chairman
and Managing Director at Hetero Group. “Our review of the product
indicates it is well suited in many of the regions where we possess
a strong marketing and distribution presence. We are confident in
our ability to drive adoption of Paclical, supplying an important
treatment to physicians and patients, as well as revenue to both
companies.”
“We are pleased to enter into this partnership with Hetero, an
organization with an expansive distribution and industry
relationships that we believe will support the growth, and
ultimately revenue, of Oasmia products,” said Julian Aleksov,
Executive Chairman at Oasmia Pharmaceutical. “It is important to
note that this agreement retains the favourable conditions for both
parties that Oasmia has held in the past with its previous partner.
We believe the structure of this relationship, coupled with the
globally recognized capabilities of Hetero, positions Oasmia for
the growth we expect of our products.”
Notes to editors:
About Oasmia Pharmaceutical
AB
Oasmia Pharmaceutical AB develops, manufactures, markets and
sells new generations of drugs in the field of human and veterinary
oncology. The company’s product development aims to create and
manufacture novel nanoparticle formulations and drug-delivery
systems based on well-established cytostatics which, in comparison
with current alternatives, show improved properties, reduced
side-effects, and expanded applications. The company’s product
development is based on its proprietary in-house research and
company patents. Oasmia is listed on NASDAQ Capital Markets
(OASM.US), Frankfurt Stock Exchange (OMAX.GR, ISIN SE0000722365)
and NASDAQ Stockholm (OASM.ST).
About Hetero Group of Companies
Hetero is one of India’s leading generic pharmaceutical
companies and its strategic business areas include branded
pharmaceuticals, APIs, generics and biosimilars. The company is
recognized for its strengths in Research and Development,
manufacturing and commercialization of a wide range of
products.
Hetero has more than 25 state-of-the-art manufacturing
facilities strategically located worldwide. Majority of our
facilities have been successfully audited and approved by stringent
regulatory authorities like US FDA, EU, TGA-Australia, MCC-South
Africa and others. The portfolio includes more than 200 products,
encompassing major therapeutic categories such as HIV/AIDS,
Oncology, Cardiovascular, Neurology, Hepatitis, etc.
Hetero has a strong global presence in over 120 countries and
focusses on making affordable medicines accessible to patients
worldwide.
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/c5605bd1-1b35-4488-8cba-00a8cb5fad32
For more information:
Julian Aleksov, Executive Chairman
Tel: +46 18 50 54 40
E-mail: julian.aleksov@oasmia.com
Media Contact :
Eric Fischgrund - FischTank Marketing and PR
Tel : 646 699 1414
E-mail : eric@fischtankpr.com
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