Press release 2 September 2016 at 1.00 p.m. EEST
Orion Corporation announced today that it has entered into a collaboration agreement with Menarini Group, for the co-marketing of budesonide-formoterol Easyhaler® combination product in Germany, Italy, Spain, and Portugal. In addition, the parties have agreed on an exclusive license and distribution arrangement in France and Turkey. Both companies will market budesonide-formoterol Easyhaler® for the treatment of asthma and COPD under their own brands accompanied by the Easyhaler® umbrella brand, as applicable.
Respiratory is one of the key strategic areas for Menarini. The collaboration with Menarini reinforces Orion's presence throughout Europe and is in line with Orion's strategy to strengthen its marketing position in Europe and the sales coverage through partnerships. The co-marketing area - in which both companies present their own product brands under the Easyhaler® umbrella brand - covers Germany, Italy, Spain, and Portugal. Orion will retain exclusive marketing rights for the Nordic countries, U.K. and Eastern Europe where the company is currently promoting Easyhaler® products. Orion will manufacture the budesonide-formoterol Easyhaler® product covered by the agreement.
Markku Huhta-Koivisto, Senior Vice President of Orion's Proprietary Products division, commented:
"I am excited about the collaboration between Orion and Menarini and look forward to having such
a strong partner focusing on respiratory therapy area. The collaboration accelerates the good momentum we have for Easyhaler products in Europe and strengthens Orion's strategic objective to become a stronger player in the field of respiratory medication."
Dr. Pio Mei, General Manager of The Menarini Group, commented:
"We are most satisfied with the agreement and the co-operation between the Menarini Group and Orion. Menarini's mission is to make high quality products available to patients all over the world, offering an increasingly wider range of products for the treatment of respiratory diseases."
About budesonide-formoterol Easyhaler®
Budesonide-formoterol Easyhaler® is an inhaled combination product indicated for asthma and chronic obstructive pulmonary disease (COPD). In this formulation, budesonide acts as an anti-inflammatory agent and formoterol acts as a long-acting bronchodilator. The product is available under the brand name Bufomix Easyhaler® in most of the European countries, with following exceptions: Fobuler® in Italy and Bufoler Easyhaler® in the Netherlands.
Orion's Easyhaler® is an in-house developed dry-powder inhaler. Orion has developed Easyhaler-adapted dry powder formulations of several well-known generic active substances (salbutamol, beclometasone, budesonide, formoterol) used in the treatment of asthma and COPD. At the moment under development is new combined formulation of fluticasone-salmeterol for the treatment of asthma and COPD.
About Menarini Group
The Menarini Group is the number one Italian pharmaceutical company in the world, 19th in Europe out of 5,541 companies, and 39th company in the world out of 21,317 companies, with a turnover of over 3.3 billion Euro and more than 16,000 employees. The Menarini Group has always pursued two strategic objectives: Research and Internationalisation. Menarini is present in the most important therapeutic areas including cardiovascular products, gastroenterology products, oncology, andrology, antibiotics/respiratory products, drugs used in diabetology, anti-inflammatory agents/analgesics. With a consolidated presence throughout Europe and in the major countries of Asia, Africa, Central and South America, its own 6 Research Centres and 15 Production sites, Menarini products are available to patients in more than 100 countries worldwide. For more information about Menarini Group, please visit: http://www.menarini.com/ (http://www.menarini.com/)
Contact person:
Markku Huhta-Koivisto, Senior Vice President, Proprietary Products, Orion Corporation
markku.huhta-koivisto@orionpharma.com (mailto:markku.huhta-koivisto@orionpharma.com)
+358 10 426 3540
Publisher Orion Corporation
Orionintie 1A, FI-02200 Espoo, Finland
http://www.orion.fi/ (http://www.orion.fi/)en
Twitter: @OrionPharma & @OrionCorpIR
Orion is a globally operating Finnish company developing pharmaceuticals and diagnostic tests - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals, active pharmaceutical ingredients and diagnostic tests. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are central nervous system (CNS) disorders, oncology and respiratory for which Orion develops inhaled Easyhaler® pulmonary drugs.
Orion's net sales in 2015 amounted to EUR 1,016 million and the Company had about 3,400 employees. Orion's A and B shares are listed on Nasdaq Helsinki.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Orion Oyj via Globenewswire
