ALCHEMIA LAUNCHES INTO INDIA
Written on the 4 June 2013
BRISBANE drug development company Alchemia Limited (ASX: ACL) has launched a deep vein thrombosis prevention drug into India following success in the United States.
Fondaparinux is an injectable coagulant approved in the United States for the prevention and treatment of deep vein thrombosis after knee or hip surgery. It will be sold and marketed in India by international marketing partner Dr Reddy’s Laboratories Inc. under the name Fondared.
The drug is a generic version of GlaxoSmithKline’s Arixtra which achieved Indian sales of around $US2.7 million during the 2012 calendar year.
ACL expects to receive 25% of all profits from sales in India with the same economies from sales from any further territories outside the United States.
Dr Reddy’s Laboratories has filed a regulatory submission in Europe seeking marketing approval for the drug in key European markets.
CEO Charles Walker says the launch represents a milestone for the company.
“This launch represents the first for our fondaparinux outside of the U.S.,” he says.
“We look forward to fondaparinux’s expansion into additional territories.”
Meanwhile ACL’s pipeline of oncology products continues to develop.
The company recently announced the final recruitment of 390 patients for its most advanced cancer drug, HA-Irinotecan, which is in Phase III for the treatment of metastatic colorectal cancer.
The treatments are built on targeted cancer delivery which is used to selectively target cancer drugs to tumours.