AMSTERDAM and SEOUL, South Korea, January 3, 2019 /PRNewswire/ --
- Norgine to receive a significant upfront payment and undisclosed sums in sales
milestones along with double-digit percentage royalties
- Norgine retains full commercial rights to PLENVU(R) in all unlicensed countries
NORGINE B.V. (Norgine), a leading European specialist pharmaceutical company and KOREA PHARMA CO., LTD. (Korea Pharma), a premier pharmaceutical manufacturer in Korea, today announced an exclusive licence and distribution agreement in the Republic of Korea by which Korea Pharma will commercialise Norgine's product PLENVU(R).
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PLENVU(R) is a lower-volume (1L) polyethylene glycol (PEG) based bowel preparation for colonoscopy in adults. It is the first lower-volume bowel preparation to show superior segmental cleansing of the colon vs. standard of care.
Jae-Don Park, CEO and Chairman of Korea Pharma said, "Building on our strong presence and knowledge in the South Korea market, we look forward to making PLENVU(R) available to healthcare professionals to help them to improve colonoscopy outcomes as well as patient experience and adherence to bowel cleansing instructions."
"We are excited about our collaboration with Korea Pharma, a trusted player," said Peter Stein, Chairman and Chief Executive Officer of Norgine. "South Korea is an important market and this partnership reflects the breadth and scope of Norgine's capabilities to build a strong network and reach out to more patients worldwide."
PLENVU(R) is currently available in mainland Europe (except France and Sweden) and Australia via Norgine and in the USA via its partner Salix Pharmaceuticals. For further information on PLENVU(R)in the EU visit http://www.expertiseincolonoscopy.com/plenvu
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Notes to Editors:
PLENVU(R), Powder for Oral Solution (PEG 3350, Sodium Ascorbate, Sodium Sulfate, Ascorbic Acid, Sodium Chloride, and Potassium Chloride), is indicated in adults for bowel cleansing prior to any procedure requiring a clean bowel.
About Colorectal Cancer and colonoscopy
Colorectal cancer is the second most common cause of cancer-related mortality world-wide. Colorectal cancer is largely preventable, with early detection being associated with a 90% cure rate. Colonoscopy is an effective method for colorectal cancer screening and has been shown to reduce both the incidence and mortality of colorectal cancer when applied in the general population. Inadequate pre-colonoscopy bowel cleansing reduces the diagnostic accuracy of colonoscopy, particularly for the detection of smaller lesions and sessile (slightly flattened) polyps. This may result in repeated procedures, thereby potentially increasing patient burden, resource requirement and costs and can possibly delay the initiation of treatment.,,
Norgine is a leading European specialist pharmaceutical company with a direct commercial presence in all major European markets. Norgine specialises in gastroenterology, hepatology, cancer and supportive care. In 2017, Norgine's total net product sales were EUR 345 million, up 17 per cent.
Norgine employs over 1,000 people across its commercial, development and manufacturing operations and manages all aspects of product development, production, marketing, sale and supply.
In 2012, Norgine established a complementary business, Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit http://www.norgineventures.com
NORGINE and the sail logo are trademarks of the Norgine group of companies.
About Korea Pharma
Since it was established in 1974, Korea Pharma has established a high-tech current good manufacturing practice (cGMP) facility for world-class GMP. Korea Pharma specialises in gastroenterology (including bowel preparation), antibiotics and diseases of the central nervous system (CNS). With this agreement signed today with Norgine, Korea Pharma has the opportunity to make a quantum leap in gastroenterology. Korea Pharma entered into a technology agreement for the treatment of dementia with Kyungsang national university in 2014.
1) Repici A., Amlani B., Uebel P., Schreiber S. Superior high-quality colon cleansing
with 1L NER1006 versus sodium picosulfate + magnesium citrate, 2L polyethylene glycol
+ ascorbate, or oral sulfate solution: Post hoc pooled analysis of three randomised
phase 3 clinical trials. #P0159. Monday 22 October. 12:30 - 13:30 CET. UEGW 2018
2) In Austria, Spain and the Netherlands it is known as PLEINVUE(R) rather than PLENVU(R)
3) World Health Organisation. https://www.who.int/news-room/fact-sheets/detail/cancer
Last accessed December 2018
4) American Cancer Society.
Last accessed December 2018
5) Bechtold ML, Mir F, Puli SR et al. Optimizing bowel preparation for colonoscopy: a
guide to enhance quality of visualization. Ann Gastroenterol 2016; 29: 137 - 146
6) Brenner H, Stock C, Hoffmeister M. Effect of screening sigmoidoscopy and screening
colonoscopy on colorectal cancer incidence and mortality: systematic review and
meta-analysis of randomised controlled trials and observational studies. BMJ 2014;
7) Baxter NN, Warren JL, Barrett MJ et al. Association between colonoscopy and colorectal
cancer mortality in a US cohort according to site of cancer and colonoscopist
specialty. J Clin Oncol 2012; 30: 2664 - 2669
CONTACT: Media Contacts for Norgine: Eleni Fistikaki +44 (0)1895-826227 or +44 (0)7825-389477, Clara Bentham +44 (0)1895-826654 or +44 (0)7734-367883, firstname.lastname@example.org, Media Contacts for Korea Pharma: Youngchan Choi +82-2-2162-8418, email@example.com