BOSTON, Jan. 8, 2018 /PRNewswire/ -- Juniper
Pharmaceuticals (Nasdaq:JNP), a diversified healthcare company
focused on women's health, today announced the extension of
its supply agreement for CRINONE® (progesterone gel)
with an affiliate of Merck KGaA, Darmstadt, Germany. The amended agreement extends the
supply term an additional 4.5 years and at least through to
December 31, 2024. The current term
was due to expire in May 2020. Merck
KGaA, Darmstadt, Germany has
marketing rights worldwide except the
United States, where CRINONE® is marketed by
Allergan plc.
"Our longstanding collaboration with Merck KGaA, Darmstadt,
Germany to supply
CRINONE® progesterone gel for sale outside of the U.S.
remains an extremely important core business for us. We anticipate
approximately 20% growth in 2017, and expect continued long-term
growth throughout the extension period," said Alicia Secor, Juniper's President and CEO. "The
expansion of this relationship with Merck KGaA, Darmstadt,
Germany has been a strategic
priority for us, and we look forward to continuing to work with the
Merck KGaA Darmstadt, Germany team
to support the long-term potential of this product."
Under the terms of the amended license and supply agreement,
Juniper will remain the supplier of CRINONE® to Merck
KGaA, Darmstadt, Germany and will
continue to sell CRINONE® to Merck KGaA, Darmstadt,
Germany for the more than 90
countries outside of the U.S. where CRINONE® is sold.
The agreement also sets from 1 July
2020, a volume tiered, fixed price per unit with minimum
annual volume guarantees. In addition, Juniper has committed to
increase the capacity of its supply chain in line with the
projected growth of the product.
Juniper previously reported that CRINONE® product
revenues increased 19% year-over-year in the third quarter of 2017.
The Company recently announced that it expects continued strong
double-digit revenue growth for its core business,
CRINONE® and JPS, in 2018.
About CRINONE®
CRINONE® 8%
(progesterone gel) is a bioadhesive progesterone vaginal gel
indicated for progesterone supplementation of the luteal phase in
women as part of an ART (assisted reproductive technology)
procedure, among other indications depending upon the country.
About Juniper Pharmaceuticals
Juniper Pharmaceuticals, Inc. core businesses include its
CRINONE® (progesterone gel) franchise and Juniper
Pharma Services, which provides high-end fee-for-service
pharmaceutical development and clinical trials manufacturing to
clients. The Company is also leveraging its differentiated
intravaginal ring technology, which offers the potential to address
unmet needs in women's health. Please visit www.juniperpharma.com
for more information.
Juniper Pharmaceuticals™ is a trademark of Juniper
Pharmaceuticals, Inc., in the U.S. and EU.
CRINONE® is a registered trademark of
Merck KGaA, Darmstadt, Germany, outside the U.S. and of
Allergan plc in the U.S.
Forward Looking Statements
This press release
contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements relating to anticipated demand and growth rates for
Juniper's core businesses, CRINONE and JPS, and Juniper's intention
to expand the capacity of its CRINONE supply chain to meet
anticipated demand in future periods. Management believes
that these forward-looking statements are reasonable as and when
made. However, such forward-looking statements involve known
and unknown risks, uncertainties, and other factors that may cause
actual results to differ materially from those projected in the
forward-looking statements. These risks and uncertainties
include, but are not limited to: risks associated with the drug
development process generally, including the outcomes of planned
clinical trials and the regulatory review process; the risk that
the results of previously conducted studies involving our product
candidates will not be repeated or observed in ongoing or future
studies or following commercial launch, if such product candidates
are approved; risks associated with obtaining, maintaining and
protecting intellectual property; risks associated with Juniper
Pharmaceuticals' ability to enforce its patents against infringers
and defend its patent portfolio against challenges from third
parties; the risk of competition from currently approved therapies
and from other companies developing products for similar uses; risk
associated with Juniper Pharmaceuticals' ability to manage
operating expenses and/or obtain additional funding to support its
business activities; and risks associated with Juniper
Pharmaceuticals' dependence on third parties. For a
discussion of certain risks and uncertainties associated with
Juniper Pharmaceuticals' forward-looking statements, please review
the Company's reports filed with the SEC, including, but not
limited to, its Annual Report on Form 10-K for the period ended
December 31, 2016 and subsequent
filings with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date on which they are made. These statements are based on
management's current expectations and Juniper Pharmaceuticals does
not undertake any responsibility to revise or update any
forward-looking statements contained herein, except as expressly
required by law.
Investor Contact:
Argot Partners
Laura Perry or Heather Savelle
212-600-1902
laura@argotpartners.com
heather@argotpartners.com
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SOURCE Juniper Pharmaceuticals, Inc.