- Company Enters Into Marketing Partnership for Once-Daily Tramadol for
LAVAL, QC, Feb. 13 /CNW/ - Labopharm Inc. (TSX: DDS; NASDAQ: DDSS) today
announced that its once-daily tramadol product has received regulatory
approval from the Korea Food and Drug Administration, which allows for the
marketing and sale of Labopharm's once-daily tramadol product in South Korea,
and from the Australian Department of Health and Aging, which allows for the
marketing and sale of Labopharm's once-daily tramadol product in Australia.
"Approval in South Korea and Australia brings the number of countries in
which our product has been approved to 27," said James R. Howard-Tripp,
President and Chief Executive Officer, Labopharm Inc. "South Korea and
Australia are important components of the global commercialization plan for
our product. We are now working with our marketing partners in both countries
towards the launches of our product later this year."
Labopharm completed licensing and distribution agreements for its
once-daily tramadol product for South Korea with WhanIn Pharmaceutical Co.,
Ltd last year, and for Australia with iNova Pharmaceuticals (Australia) Pty
Limited earlier this year. The Company expects its product to be launched in
South Korea and Australia later this year.
Marketing Partnership for Once-Daily Tramadol for Turkey
Labopharm also announced today that it has signed a licensing and
distribution agreement for its once-daily tramadol product for Turkey with
Dr. F. Frik Ilac San. Ve Tic. A. S.
Under terms of the agreement, Dr. F. Frik will have the exclusive right
to market and sell Labopharm's once-daily tramadol product in Turkey.
Labopharm will supply Dr. F. Frik with finished packaged product and will
receive revenue from the sale of such finished packaged product at rates
commensurate with those of previous licensing and distribution agreements that
Labopharm has entered into for other European markets. Labopharm is also
eligible to receive additional payments upon the achievement of certain
Labopharm has submitted a marketing application for regulatory approval
of its once-daily formulation of tramadol to the Ministry of Health in Turkey.
The Company expects to receive approval in early 2009.
For the 12-month period ended September 2007, sales of tramadol products
in Turkey were 7.1 million standard units, representing a compounded annual
growth rate over the previous five 12-month periods of 35%.
About Dr. F. Frik Ilac San. Ve Tic. A. S.
Dr. F. Frik Ilac San. Ve Tic. A. S. focuses on the registration, sales
and marketing of value added pharmaceutical products in Turkey, as well as
some foreign markets. The Company has more than 225 sales representatives
promoting products in the central nervous system, musculo-skeletal,
respiratory, gastrointestinal and other treatment areas.
About Labopharm Inc.
Labopharm is an emerging leader in optimizing the performance of existing
small molecule drugs using its proprietary controlled-release technologies.
The Company's lead product, a unique once-daily formulation of tramadol, is
being commercially launched in key markets globally. The Company also has a
robust pipeline of follow-on products in both pre-clinical and clinical
development. Labopharm's vision is to become a fully integrated,
international, specialty pharmaceutical company with the capability to
internally develop and commercialize its own products. For more information,
please visit www.labopharm.com.
This press release contains forward-looking statements, which reflect the
Company's current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual events could differ
materially from those projected herein and depend on a number of factors,
including the uncertainties related to the regulatory process in various
countries for the approval of the Company's products and the successful
commercialization of the products throughout the world if they are approved.
Investors should consult the Company's ongoing quarterly filings and annual
reports for additional information on risks and uncertainties relating to
these forward-looking statements. The reader is cautioned not to rely on these
forward-looking statements. The Company disclaims any obligation to update
these forward-looking statements.
For further information:
For further information: At Labopharm: Mark D'Souza, Chief Financial
Officer, Tel: (450) 686-0207; At The Equicom Group: Jason Hogan, Media and
Investor Relations, Tel: (416) 815-0700, email@example.com; French: Eric
Bouchard, Tel: (514) 844-7997, firstname.lastname@example.org