Lundbeck expands the agreement with Teva to include marketing of Azilect in selected Asian countries

26-Feb-2010 - Denmark

H. Lundbeck A/S announced it had expanded the agreement with Teva Pharmaceutical Industries Ltd. for Azilect® to cover six markets in Asia - China, South Korea, Hong Kong, Malaysia, Thailand and the Philippines.

The Asian market is becoming an increasingly important platform for Lundbeck, as the region experiences rapid growth within the CNS market. With the agreement Lundbeck gains access to six interesting Asian markets all expected to show significant growth within the Parkinson's disease market. Azilect® will be a significant growth driver of Lundbeck's Asian business in general, and especially for China and South Korea. The agreement comes on top of the recent grant of reimbursement in China on two of Lundbeck's key products, Cipralex® and Ebixa®.

As part of the agreement Lundbeck is responsible for conducting the clinical trials and preparing the application filings needed to gain a marketing authorisation in the individual markets. The first launch in one of the markets may potentially occur in approximately one year.

"With the new agreement with our partner Teva, we get an opportunity to expand our already successful work with Azilect®. The pharmaceutical markets in Asia, and the CNS market in particular, is undergoing rapid development, and we see this agreement as a possibility to further strengthen our commercial platform in this promising region," says Ole Chrintz, Senior Vice President, Commercial Operations at Lundbeck. "Azilect® is an important treatment option in an unsatisfied Parkinson's disease market and is the first medication that in clinical trials has shown an effect consistent with the possibility of disease modification in Parkinson's disease. We are glad that we will now be able to offer this effective treatment to the population in the Asian countries."

Specific financial terms remain undisclosed but Lundbeck will pay a share of net sales in the markets to Teva.

https://www.bionity.com/en/news/114097/lundbeck-expands-the-agreement-with-teva-to-include-marketing-of-azilect-in-selected-asian-countries.html