A new distribution agreement in Northern Europe
A new distribution agreement in Northern EuropeSIGNIFICANT NEWS
After the firm order placed by the BARDA (Biomedical Advanced Research and Development Authority) in the US and the other commercialization agreement for Australia and New Zealand, Crossject has announced it has concluded a commercialization agreement in northern Europe for ZEPIZURE (ex Midazolam). There will be no real impact on our numbers, since they are based on the actual product launches.
FACT
Crossject has announced it has concluded a commercialization agreement in northern Europe for ZEPIZURE (previously called ZENEO Midazolam) covering Germany, the UK, Denmark, Sweden, Finland and Norway.
ANALYSIS
Even if the partner for this agreement is undisclosed and that therefore its size and “distribution power” are not know, this is good news for the French group, covering a 170m population. In financial terms, Crossject will receive milestone payments of up to €1m in total, upon marketing authorizations granted in the countries concerned by the agreement, and receive a percentage of the gross margin achieved. In the agreement, Crossject is responsible for regulatory development costs and will own any resulting marketing authorizations. The partner will b e responsible for the commercial costs.
This also comes after the firm order placed by the BARDA (Biomedical Advanced Research and Development Authority), and the other commercialization agreement for Australia and New Zealand (with AF Pharmaceuticals and covering a c.30m population).
Both these agreements and the order placed in the US (BARDA) confirms that the firm is making progress on the future commercialization of Zepizure, and prepares the group for the product launch in these territories once the marketing authorizations are granted.
IMPACT
There will be no real impact on our numbers, since they are based on the actual product launches. As was the case for the other agreements, the partner will contribute to financing some of the costs the group is incurring with respect to development and “filing-related” expenses.
Crossject SA is a France-based company that designs and develops medical injection systems. The Company specializes in needle-free, pre-filled, single-use injection systems for intradermal, subcutaneous and intramuscular applications for pharmaceutical companies. Is also has a pipeline and three drugs in the preclinical or clinical phase of research. The Company's products, which are based on well-known injectable drugs (chemicals and biologics), are designed to enhance patients' safety, compliance and comfort. Crossject's first ZENEO SUPERGENERIC product is expected to reach the market in the year 2015. The Company has industrial partnerships with Hirtenberger and Recipharm.
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