ZUG, Switzerland & NIMES, France--(BUSINESS WIRE)--Swiss pharmaceutical company Primex Pharmaceuticals AG and French pharmaceutical laboratory Advicenne SA announced today a deal where Primex will acquire global rights for an advanced oral pharmaceutical candidate for pediatric anesthesiology developed by Advicenne. The market potential is evaluated as hundreds of millions of euros.
This oral solution is dedicated to pediatric anesthesiology. Nearly 10,000 patients have already been successfully treated by the university hospital at Amiens, which collaborated with Advicenne.
With this acquisition, Primex Pharmaceuticals expands its anesthesiology portfolio with a unique product that will be distributed through Primex’s existing channels and new partners, which will be appointed in all other markets.
“This is a breakthrough in the area of pediatric anesthesia, and along with further applications, the annual market potential is between 100 M€ and 350 M€”, says Kari Sarvanto, President of Primex Pharmaceuticals. “We’re extremely enthusiastic about the cooperation with Advicenne and looking forward to bringing such a patient-friendly novel product to the market.”
“As one of the very first in-house developed products, this deal validates our strategy and capabilities in developing original pediatric-adapted drugs”, says Dr Luc-André Granier, CEO of Advicenne. “Primex Pharmaceuticals is probably the best partner for the commercial success of the product as its network is global and its commitment for anesthesiology is very strong.”
About Advicenne, www.advicenne.com
Advicenne, a fast-growing specialty pharma, focuses on innovative pediatric medications, targeting orphan or neglected diseases within the fields of neurology and nephrology and aims to become a world leader in those therapeutic areas.
The company has today a strong portfolio of products in late-stage development targeting critical unmet needs in nephrology and epilepsy, and has started its commercial activities late 2015 with its first product on the French market.
About Primex Pharmaceuticals
Primex Pharmaceuticals is a fast-growing company spearheading a new pharmaceutical business model. It supplies high-quality anesthetics and life-saving medicines to healthcare institutions and professionals around the world. Primex’s distribution reaches a population of nearly one billion people. The company is headquartered in Finland and Switzerland.
Primex Pharmaceuticals has proven underlying business operations and historical strong revenue growth (29 % CAGR in 2012-2015E) and high margins (adjusted EBITDA margin 12% on average 2012-2015E).