Cangene enters marketing and distribution agreement with BioGeneriX AG
Cangene Corporation announces that it has entered an exclusive marketing and distribution agreement with BioGeneriX AG of Mannheim, Germany for Cangene's recombinant human growth hormone. Under the agreement, BioGeneriX will be the sole distributor of the product in Europe, giving Cangene significant access to the European market, especially through the sales force of BioGeneriX' parent company, one of the largest generic drug companies in Europe. Cangene and BioGeneriX will pursue regulatory approval from The European Agency for the Evaluation of Medicinal Products ("EMEA") and any other authority necessary for sales in the region. Financial terms of the agreement have not been disclosed.
Cangene's recombinant human growth hormone ("rhGH") is identical in sequence to naturally-produced human growth hormone of pituitary origin and is manufactured in the Company's new biotechnology manufacturing facility in Winnipeg, Manitoba. Cangene's rhGH is one of the leading products in Cangene's generic biopharmaceutical pipeline and has been tested for use in children with growth hormone deficiency and girls with Turner Syndrome. One of Cangene's core business strategies is to develop generic versions of recombinant proteins using proprietary technology.
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