Freienbach, 03 June 2013 – EffRx Pharmaceuticals S.A. today announces the signing of an exclusive distribution agreement with Ahn-Gook Pharmaceutical Co. Ltd for Binosto – EffRx’s innovative osteoporosis medication – for the Korean market.
Under the terms of the agreement, EffRx grants exclusive rights to Ahn-Gook to register, market and distribute Binosto® in South Korea. This agreement will leverage Ahn-Gook’s strong local presence and expertise in Korea.
Binosto® is the first and only buffered solution for the treatment of osteoporosis, delivering fracture-risk reduction at the hip & spine and offering the potential to improve adherence to therapy. Binosto® is taken with a small amount of water and lowers gastric acidity in the first 30 minutes after administration, a time when the patient must not eat or drink anything other than plain water.
Christer Rosen, EffRx Chairman and CEO said at the signing ceremony “We are pleased to initiate a partnership with Ahn-Gook who has a dynamic and outstanding sales force, and we are convinced that Ahn-Gook becomes a new strong player in the Korean osteoporosis market.
Jin Auh, Ahn-Gook President & CEO said that the Korean market is worth 140M USD, and bisphosphonates account for more than 90%. “We highly expect Binosto® to overcome limitations of current bisphosphonates”
Binosto is expected to be registered in Korea in 2014 and launched within the same year.
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Binosto® (buffered alendronate sodium 70mg) is an effervescent tablet for oral solution and has been approved in the United States, Europe and Australia for the treatment of osteoporosis. It has been marketed since October 2012 in the United States by Mission Pharmacal, and is expected to be launched in other territories in 2014.
Binosto has been developed with EffRx innovative patented effervescent technology. EffRx is operating under exclusive worldwide rights to all effervescent and related patents of alendronate licensed from Merck & Co, Inc.
EffRx Pharmaceuticals SA is an innovative specialty pharmaceutical company that exploits its proprietary technology platform to improve the efficacy, tolerability and convenience of medicines, thereby generating better products and improving quality of life for patients. The primary focus is on metabolic bone disease, pediatric medications and supporting larger companies in Life Cycle Management.
Ahn-Gook Pharmaceutical Co., Ltd. is a Korea-based pharmaceutical company. The Company’s products include respiratory agents, gastrointestinal agents, anti-inflammatories, analgesics, ophthalmics and circulatory system agents. It also provides antibiotics, antifungal drugs, antihyperlipidemics, antiallergic drugs, anti-diabetic drugs, urinary system drugs and skin disease remedies. Anh-Gook also markets OTC and ethical drugs.
Please refer to the official Binosto® Prescribing Information and approved indications, contraindications, and warnings in your country.