BioAlliance Pharma establishes new subsidiary, SpeBio, to sell Loramyc in Europe
BioAlliance Pharma SA announced today that it has established its new subsidiary, SpeBio, to sell its Loramyc(R) product in Europe. The move is in line with the agreement signed on March 8 2007 with Spepharm, joint partner in the venture.
The 50:50 joint venture, based in the Netherlands, will distribute Loramyc(R) in European Union countries except France where BioAlliance has set up its own sales team, and in Switzerland and Norway, both outside the EU.
Loramyc(R) is a product indicated for oropharyngeal candidiasis in immunodepressed patients. It obtained Marketing Authorization in France in October 2006. BioAlliance is currently awaiting a decision on the reimbursement price.
Under the terms of the contract between BioAlliance Pharma and Spepharm, BioAlliance will receive up to EUR 29.5 million from Spepharm for Loramyc(R) distribution rights in Europe.
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