EffRx Signs Agreement For Binosto Distribution In Russia And Africa
Specialty pharmaceutical company EffRx Pharmaceuticals SA announced that it has signed into two new distribution agreements that will bring its osteoporosis drug Binosto to patients in Russia, Africa, and CIS countries.
Binosto is a buffered, effervescent formulation of prescribed treatment alendronate. Binosto was approved by the U.S. Food and Drug Administration (FDA) in 2012.
The two new agreements will commercially launch Binosto in 53 countries around the world. The first agreement with Andrus, will launch the drug in Russia, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Ukraine and Uzbekistan. A second partnership with Adcock Ingram Healthcare will make Binosto available in South Africa, Namibia, Botswana, Swaziland, Lesotho, Zimbabwe, Kenya and Ghana.
Lorenzo Bosisio, EffRx CCO, said, “We are excited to expand the global footprint of Binosto with the addition of these fast-growing emerging markets. Binosto is our first approved product… we look forward to making it available to an increasing population with these two agreements.”
Christer Rosén, EffRx Chairman and CEO, said, “The continued worldwide adoption of Binosto is the first of our current out-licensing initiatives and is expected to provide a steady income stream in the future. We continue to focus on the two other, potentially larger, elements of our threefold growth strategy – products in the orphan drug segment, including the ongoing development of our PCOS product, and lifecycle management.”
The company also recently signed into distribution agreements with three local pharmaceutical companies in Italy, Spain, and Portugal for Binosto earlier this year. Under the terms of the agreement, the company granted exclusive marketing authorization and distribution rights to Abiogen Pharma SpA. for Italy, Lacer S.A. for Spain, and Laboratorios Atral S.A. for Portugal.
More recently, the company received Orphan Drug designation for its proprietary metformin-based product candidate EX404 as treatment for pediatric polycystic ovary syndrome (PCOS), also known as Stein-Leventhal Syndrome.