Medicom Healthcare Ltd announces the signing of an Asset Purchase Agreement of BIMATOPROST 0.3 mg/mL, 3ml
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LONDON, Feb. 10, 2021 /PRNewswire/ -- Medicom Healthcare Limited (Medicom) and Famar Health Care Services Madrid (Famar) are pleased to announce the signing of an Asset Purchase Agreement (APA) for the acquisition by Medicom of the pharmaceutical dossier of BIMATOPROST 0.3 mg/mL, 3ml, preservative free eye drop solution, developed by Famar R&D. Under this agreement, Medicom has acquired the ownership of the product dossier which is already registered in the UK and 5 EU countries with plans to commercialise the asset globally.
Medicom and Famar have also entered into a long term Manufacturing and Supply Agreement (MSA), with Famar being the exclusive manufacturer of this product for Medicom for a minimum period of 5 years, under specific terms and conditions. Both organisations expect the first commercial launch of the product, branded Zimed®, in quarter 4 of 2021.
This agreement is an important milestone for Famar as it marks the sale of its second own pharmaceutical dossier signifying a new era of continuous development and investments, under a new shareholders scheme.
Simon Martin, CEO and Chairman of Medicom said, "Medicom Healthcare is the largest volume supplier of Ophthalmic dry eye drops to the NHS1 in the UK . We have embarked on an ambitious Global expansion plan to sign up new distributors of our novel Evolve® range of therapies specifically designed to protect the cornea from damage by unnecessary excipients that are a legacy of older technologies." He added, "The Glaucoma market Globally is predicted to exceed $3.8bn by 20262, Zimed® will form another key pillar in our corneal protective growth strategy and we are delighted to have this agreement with a trusted, high quality manufacturer."
Ian Cooper, CEO of Famar stated that "It is in the core of Famar's strategy to further develop and expand its business and customers' portfolio providing best quality services and products, repositioning Famar as the leader in the CDMO market globally. We take pride in our cutting edge scientific know how and our top expert employees. Our methodology and innovation characterizes the trusted and long lasting relationships with our customers throughout the world. We are pleased to welcome our new partner Medicom and look forward to cooperate in new projects."
1: GPRx data, October 2020
2: Globaldata PharmaPoint: Glaucoma – Global Drug Forecast and Market Analysis to 2026
Famar is a leading European services provider for the development and production of pharmaceutical and cosmetic products (CDMO). With 6 manufacturing sites and 2 R&D centers for pharmaceuticals and cosmetics, in Greece, Italy and Spain, Famar produces annually 1700 unique product codes for pharmaceutical and cosmetic companies. Famar strategically emphasizes continuous investment in quality, technical expertise and equipment, continuous enrichment of its services portfolio ensuring a steady growth of drug development and production services for more than 120 customers to more than 80 markets worldwide. For further information, please visit www.famar-group.com.
Medicom Healthcare is a rapidly growing, specialty Ophthalmic company with a strong track record of execution, having developed and launched 30 eye care products globally since 2007. Medicom Healthcare's mission is to provide high quality eye care products that are designed, manufactured and delivered with excellence and to continually improve the awareness, accessibility and affordability of eyecare around the world. Medicom Healthcare is committed to delivering their vision of Protecting the Cornea through the removal of citrates, phosphates, stabilisers, buffers and preservatives in formulations, delivering them to patients, consumers, healthcare providers and payors worldwide. For further information: please visit www.medicomhealthcare.com.
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SOURCE Medicom Healthcare Limited
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