Celon Pharma S.A. signed an agreement with Glemnark Pharmaceutical Europe Limited on commercialisation of Salmex into several European countries.
The company concluded an agreement under which it undertakes to, inter alia, supply a pharmaceutical product approved for marketing in selected European markets. The distribution agreement was concluded for a period of 10 years, with an option of a two-year extension. The contract concluded with Glenmark Pharmaceutical Europe Limited applies to 15 European countries, including, among others: Great Britain, Germany, Belgium, the Netherlands, Italy, Sweden, Norway and Romania. As subsequent stages related with development and obtaining of marketing authorisation for the product in individual markets are implemented, Celon Pharma S.A. will be entitled to several million euro under the agreement.
Maciej Wieczorek, CEO of Celon Pharma S.A.: For many years we have invested heavily in developing technologies for inhalation drugs, and this agreement is yet another proof that the direction we have chosen is correct. The common experiences of both companies in the area of manufacturing, commercialisation and distribution of inhaled drugs will translate into greater availability of combination therapy in a DPI inhaler in many European countries.
In view of the Company's international plans, Celon Pharma S.A. will finalise the construction of a new technological line for the production of inhalation drugs in the production plant located in Kazuń Nowy by the end of 2015. This investment will increase the Salmex manufacturing capacity to 1 million inhalers per month.
The recently concluded agreement is yet another agreement concluded by Celon Pharma S.A. for the purpose of large-scale registration and distribution of Salmex (fluticasone propionate/Salmeterol) in Europe and the USA.