Orexo AB (STO: ORX) and Invida Group Private Limited today announced the signing of an exclusive licensing and distribution agreement, covering the Asia Pacific region for Abstral™, Orexo's product for the treatment of breakthrough cancer pain. Under the terms of the agreement, Orexo will supply Invida with Abstral product, and Invida will be responsible for all regulatory, medical, marketing and sales activities in eleven countries across Asia Pacific, excluding China where the product is already partnered. Financial terms of the agreement were not disclosed.
“Invida has a strong market position in the region, and we firmly believe that the company will effectively commercialize Abstral. Partner agreements are an important source for generating additional profitability from Abstral on a global basis.”
Thomas Lundqvist, acting CEO of Orexo said "Invida has a strong market position in the region, and we firmly believe that the company will effectively commercialize Abstral. Partner agreements are an important source for generating additional profitability from Abstral on a global basis."
John Graham, President and CEO of Invida added "This alliance will allow us to leverage our suite of capabilities to meet the rapidly growing demand for new, effective pain treatments in this region, and aligns with our goal of forging true partnerships, in which we are able to operate across the full value chain to bring pharmaceutical products into the Asia Pacific markets. Abstral represents a valuable asset to enhance our growing oncology supportive care portfolio. We are extremely enthusiastic about the partnership and have great confidence in the product and its performance throughout the region."
This agreement extends to Australia, India, Philippines, South Korea, Singapore, Indonesia, Malaysia, Taiwan, Thailand, Vietnam, and New Zealand.
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