Napo Pharmaceuticals, Inc., which focuses on the development and commercialization of proprietary pharmaceuticals for the treatment of diarrheal diseases in the global marketplace in collaboration with local partners, is pleased to announce the formation of a Finder's Agreement with its licensee for crofelemer in China, Luye Pharma Group Ltd. (formerly Asiapharm).
“We see a great opportunity for crofelemer in the rapidly expanding Chinese market, and in particular applaud the vision of Luye to seek expertise to most rapidly address the important pediatric need”
Drug sales in China are expected to outpace those in France and Germany next year, and by 2013 China will contribute an estimated $40 billion, or 44 percent, of the $90 billion in anticipated sales to be generated by emerging pharmaceutical markets (which will account for 48 percent of overall industry growth). This according to a report by IMS Health recently cited in The New York Times, in which IMS divided into three tiers 17 markets poised for significant growth. China was alone in the top tier.
Almost three million children die of dehydration due to diarrhea each year, with measurable morbidity in hundreds of millions more. Napo and Luye seek to combat this in a key market by allying with pharmaceutical companies that have a presence in China as well as expertise in the manufacture and commercialization of gastrointestinal products—particularly those that can address pediatric populations.
Luye will contribute its licensed rights to crofelemer in China (including Macao and Hong Kong) for the indications of chronic diarrhea in people living with HIV/AIDS, adult acute infectious diarrhea, and pediatric diarrhea, and Napo will seek a sub-licensee with resources and experience in the gastro-intestinal and/or pediatric markets to achieve development, regulatory approval, and distribution of crofelemer in China. Napo will have access to Chinese translations of regulatory and clinical data from previous research on crofelemer, encompassing studies of more than 2,000 patients, as well as all data generated in the future.
"We see a great opportunity for crofelemer in the rapidly expanding Chinese market, and in particular applaud the vision of Luye to seek expertise to most rapidly address the important pediatric need," said Napo CEO Lisa Conte. "We are looking forward to the end of the Phase 3 trial for CRO-HIV in the United States, and believe the data from this trial and that of previously conducted CRO-ID trials provides a very attractive regulatory and clinical data package."
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