TaiGen Biotechnology inks deal to grant distribution rights Russia firm
January 16, 2014, 12:10 am TWN
TAIPEI--Taiwanese pharmaceutical company TaiGen Biotechnology Co. has granted exclusive rights to Russian firm R-Pharm for development and commercialization of nemonoxacin, a new antibiotic, in Russia and nearby countries.
The agreement marks the second deal TaiGen has inked with an overseas pharmaceutical firm to distribute the non-fluorinated antibiotic, branded Taigexyn, which was developed as a treatment for pneumonia and skin infections. The drug entered the China market through an agreement with Zhejiang Medicine Co. in 2012.
The deal with R-Pharm, announced Wednesday, will grant the Russian company exclusive distribution rights in the Russian Federation, Turkey and members of the Commonwealth of Independent States (CIS). It also covers former CIS member state Georgia and associate members Turkmenistan and Ukraine.
TaiGen and R-Pharm valued the markets at up to US$36 billion. “We are very excited about the opportunity to bring this truly innovative anti-infective compound to patients in Russia, other former Soviet Union states, and Turkey and will use our clinical, regulatory and commercial capabilities to ensure speedy registration and successful launch,” R-Pharm CEO Vasily G. Ignatiev was quoted in an online press release.
TaiGen President and CEO Hsu Ming-chu said her company was impressed by R-Pharm's commitment to preventing infectious disease, saying she expects the two companies will together be able to meet local demands for innovative medicines.
R-Pharm has over 2,800 employees and sales revenues of US$1.8 billion, according to the press release.
Russia's pharmaceuticals market is the 11th largest in the world, and Turkey's ranks 17th. In 2012, the antibiotic market in Russia reached US$1.4 billion, the press release said.