Date: April 26, 2023, time: 04:10 PM
Legal basis: Article 17 section 1 of the Market Abuse Regulation (MAR) – inside information.
The Management Board of Celon Pharma S.A. (“Company”) hereby informs that on April 26, 2023, the Company was informed by Glenmark Pharmaceuticals Ltd. with its registered seat in India (“Glenmark”) about a positive decision regarding a tender announced by the Gulf Health Council regarding the supply of products that constitutes a combination of fluticasone and salmeterol in a dry powder inhalers (which is sold under the brand name Salmex in Poland), within the territory of Saudi Arabia, United Arab Emirates, Kuwait, Bahrain, Oman and Qatar, in which Celon Pharma S.A. will be the manufacturer and provider of the product for the above-mentioned markets.
The value of the concluded tender amounts to EUR 3.5 million, which in the opinion of the Management Board constitutes is significant from the perspective of the future revenues of the Company, and moreover the fact of winning the tender proceedings allows for a quicker introduction of the product to the market in question regardless of the registration processes conducted based on a license agreement of 2021 (referred to in the Company’s current report no. 13/2021). This means that at the time when the drug receives marketing authorization in that market, it will have already become a familiar product in that territory, which will allow it to reach the target market position more quickly.
The product is to be supplied for 2 years, with possible extension to up to 3 years. The order sent to the Company by Glenmark indicated that the listed values might be subject to change based on actual amounts awarded under the tender, with the division into particular countries.