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Swedish pharmaceutical company Orexo AB signs distribution deal with Israel's Neopharm Ltd(Nordic Business Report Via Acquire Media NewsEdge) Swedish pharmaceutical company Orexo AB (OMX Stockholm:ORX) announced on Wednesday (18 February) that it has signed a distribution agreement with the Israeli company Neopharm Ltd. The agreement grants Neopharm exclusive rights to market and sell Orexo's cancer pain treatment Abstral in Israel, in exchange for margins on the sales and milestone payments. Under the agreement, Neopharm will also manage the regulatory approval of Abstral in Israel. "This agreement with Neopharm will enable sales of Abstral on additional geographic markets and is another step in developing Orexo into a profitable pharmaceutical company. Neopharm has one of the most experienced marketing and sales organisations in Israel, with pain and oncology expertise, which makes them a perfect partner for Orexo in Israel," commented Torbjorn Bjerke, president and CEO of Orexo. Orexo, headquartered in Uppsala, Sweden, focuses on developing new, patented drugs for the treatment of respiratory and inflammatory diseases. Its current portfolio includes three marketed products, three products in clinical phase and one undergoing registration. Orexo reported a net turnover of SEK233m in 2008. One British pound (GBP) is worth approximately 12.16 Swedish kronor (SEK). ((Comments on this story may be sent to [email protected])) Copyright ? 2009 M2 Communications Ltd. |