The company’s US subsidiary, Veloxis Pharmaceuticals, Inc., has entered into an exclusive license, supply and distribution agreement with Taiba Healthcare to register, commercialize and distribute Envarsus XR in certain countries throughout the Middle East and North Africa (MENA) region.
Under the terms of the agreement, Veloxis will receive an up-front payment and a one-time sales milestone based on achievement of a certain sales target. Veloxis will supply Envarsus XR to Taiba for sale in the Territory at a pre-agreed transfer price. The initial term of the agreement runs for 10 years from the date the product is approved in each country in the Territory.
“Veloxis has received a strong response from potential partners around the world as we seek to make Envarsus XR broadly available in key regions. We are excited to partner with Taiba Healthcare, a leader in the MENA region for specialty pharmaceuticals and a partner for many of the most respected global specialty and rare disease biopharmaceutical companies,” said Craig Collard, Chief Executive Officer of Veloxis Pharmaceuticals A/S.
Taiba Healthcare is the leading marketing, sales and distribution company with operations in the Middle East and Africa region, strongly committed to provide access to specialty and orphan products. Taiba has its own distribution network in all GCC countries reaching all of the MENA region with a regional office in Dubai and headquarters in Oman.
“We are very happy to team with Veloxis to bring its valuable treatment Envarsus XR to our territory and proud to add it to our distinguished portfolio of innovative treatments. Our aim is to use our extensive knowledge and expertise in the region to bring the significant benefits of Envarsus XR to the patients in our territory,” said Dr. Saif-Al Hasani, Chief Executive Officer of Taiba.
The company also announced that its U.S. subsidiary and Endo Ventures Limited have entered into an exclusive license, supply and distribution agreement, to register, commercialize and distribute Envarsus XR in Canada. Under the terms of the agreement, Veloxis will receive an up-front payment and Veloxis will supply Envarsus XR at a pre-specified transfer price. The initial term of the agreement is 15 years from the effective date of the agreement.
“Canada is a highly competitive market for tacrolimus formulations and we are very pleased to have attracted Endo Ventures Limited and its affiliate, Paladin Labs Inc., which has a rich history of Health Canada approvals and launches of licensed products for Canada, to join the growing Envarsus XR family. Based upon Paladin’s strong track record of commercializing innovative specialty products in Canada for over 20 years, we are confident that this deal will be expertly leveraged by Endo Ventures Limited and Paladin,” said Craig Collard, Chief Executive Officer of Veloxis Pharmaceuticals A/S.
“We are very pleased to work with Veloxis and Endo Ventures Limited to bring a new treatment option for Canadian kidney transplant recipients,” said Livio DiFrancesco, General Manager of Paladin. “This product complements our growing promoted specialty products portfolio and provides us an additional pillar upon which to grow our portfolio of innovative treatments.”