Swedish Orphan Biovitrum and Pharming Group NV announced an exclusive 10 year distribution agreement, under which Swedish Orphan Biovitrum will distribute Rhucin in 24 EU countries, Norway, Iceland and Switzerland.
Under the agreement, Swedish Orphan Biovitrum will pay to Pharming an undisclosed upfront payment and a regulatory approval milestone. In addition, Swedish Orphan Biovitrum will pay a supply price that will include tiered performance based royalties to Pharming. Swedish Orphan Biovitrum will also have the right to participate in the future development and distribution of Rhucin in the agreed countries for additional indications.
Rhucin is a recombinant human C1 inhibitor for the acute treatment of Hereditary Angioedema (HAE) attacks. Pharming submitted an MAA for Rhucin to the European Medicines Agency (EMA) in September 2009.
"Rhucin is a novel medicine that offers great value to HAE patients. This orphan drug fits perfectly with our business goals and in our product portfolio. We are very much looking forward to a longstanding partnership with Pharming and the respective growth of both companies. We are delighted to provide what we believe will be a highly beneficial medicine to patients who need it," said Martin Nicklasson, CEO of Swedish Orphan Biovitrum Group.
"We are confident that we will successfully bring Rhucin through the remainder of the regulatory review process and look forward to making Rhucin available for HAE patients in Europe shortly thereafter. With their impressive track record in selling and distributing medicines in the rare disease area in Europe, Swedish Orphan Biovitrum makes an ideal partner to maximize the value of our product in a mutually beneficial collaboration," said Dr Sijmen de Vries, chief executive officer of Pharming.
Rhucin or recombinant human C1 inhibitor (rhC1INH) is a recombinant protein for acute treatment of Hereditary Angioedema (HAE) attacks.
Swedish Orphan Biovitrum is a specialty pharmaceutical company with an international market presence.