Partner Merck KGaA establishes international respiratory medicines business
19 Sep 2005
Partner Merck KGaA establishes international respiratory medicines business
Nottingham, UK, 19 September 2005 – Innovata plc (LSE: IOV), the product development company focused on respiratory disease and inhaled therapies, today announces that its previously undisclosed pharmaceutical partner for Clickhaler® in Europe and some other countries is Merck KGaA.
During the European Respiratory Society’s 15th Annual Congress being held in Copenhagen from 17-21 September, Merck KGaA announced the establishment of an international respiratory medicines business unit in order to consolidate its expertise in this field and better compete in this strategically important therapeutic area.
Merck KGaA is a global pharmaceutical and chemical company with sales of EUR 5.9 billion in 2004. Its new respiratory business is under the umbrella organisation of the Merck Generics division, the world’s third-largest generics company with operations across Europe, the Americas and the Asia/Pacific region.
Merck Respiratory has been working with Innovata to develop respiratory medicines using Innovata’s patented, dry powder device, Clickhaler®. Merck Respiratory has already gained marketing authorisations for the Budesonide Clickhaler® for the treatment of asthma and Formoterol Clickhaler®, for the treatment of asthma and COPD, in a number of European markets. Further approvals in other major European Union markets are anticipated in the coming months.
Under the terms of the agreement with Merck Generics, Innovata has received milestone payments totalling £6m, and the above announced event triggers a further milestone payment. Sales of comparable budesonide products in Europe total £200 million while the European market for comparable formoterol products is estimated at more than £100 million.
Hank Klakurka, President of Merck Generics, said:
“Merck Respiratory aims to be a leading provider of effective respiratory medicines, improving the lives of patients with asthma and chronic obstructive pulmonary disease. We intend to create a full range of respiratory products underpinned by innovative, affordable and easy-to-use delivery devices.”
Kieran Murphy, Chief Executive Officer of Innovata, added:
“We are delighted to be able to reveal that we are working with one of the world’s largest generics companies in the respiratory field. With Merck’s new Respiratory presence, we are confident that our Budesonide and Formoterol Clickhaler products will gain a significant share of the European markets following their launches.”
Contacts:
Innovata plc
Tel: 0115 974 474
Kieran Murphy, Chief Executive Officer
Paul Ballington, Director of Marketing & Business Development
Financial Dynamics
Tel: 020 7831 3113
Sarah MacLeod / John Gilbert
