(updating to recast lead, add spokesman's statement, background)
BAD HOMBURG, Germany (Thomson Financial) - Fresenius Medical Care AG & Co. KGaA (FMC) said it has bought the right to market Galenica AG.'s Venofer and Ferinjet injections for the treatment of iron deficiency, as part of its drive to add dialysis-related drugs to its offering of dialysis treatments.
The deal, which will take effect on Jan. 1, 2009, at the latest and applies to Europe, the Middle East, Africa and Latin America, is limited to the drugs' use for kidney dialysis, FMC said in a statement.
Galenica of Switzerland, both a distributor and producer of drugs, will receive royalties depending on sales, Fresenius spokesman Bernd Ebeling said.
FMC, the world's largest operator of dialysis clinics, will finance the deal out of its operating cash flow, he added, declining to provide more financial details.
The accord, plus a separate agreement on North America, will add more than $250 million to FMC's sales in 2009, Ebeling said.
Last year, the company posted sale of $9.72 billion.
As part of a separate 10-year accord for North America, Galenica exclusively licenses Venofer and Injectafer, the U.S. brand for Ferinjet, to Luitpold Pharmaceuticals Inc. and its American Regent subsidiary, which will continue to supply the drugs to FMC for use in dialysis patients.
Luitpold will, however, continue to sell Venofer for use in treating chronic kidney disease patients not yet on dialysis and in treating patients with acute renal failure in hospitals.
FMC already markets the drugs Epogen and PhosLo for the treatment of anaemia and excess levels of phosphate, respectively, which are common conditions among dialysis patients.
It is also seeking to obtain the rights to vitamin D supplements to treat another deficiency stemming from kidney failure.
Galenica said in a separate statement that it will now focus on marketing
Venofer and Ferinjet for indications outside dialysis, such as gastroenterology, gynaecology, oncology, cardiology and non-dialyses chronic kidney disease. ludwig.burger@thomsonreuters.com lb/vs/lb/slj COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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