DUBAI, United Arab Emirates, November 30, 2015 – Mundipharma the innovative pharmaceutical company and leader in the science of pain alleviation, today announced a strategic agreement with medical devices developer and the sole producer of Ectoin®, bitop AG.
The exclusive license agreement is for the patented Ectoin®-containing medical devices and grants Mundipharma the rights to register, commercialize and export the products in 56 countries across the Middle East and Africa.
This agreement will support the development and delivery of soothe and relief remedies for allergy, dermatitis, cough and cold, respiratory disease, and eye/nose dryness. According to the WAO’s (World Allergy Organization) White Book on Allergy, owing to dust and pollution, more than one third of the population in the Middle East and Africa suffer from some form of allergies all year round. The Ectoin® range of products have excellent membrane-stabilizing and inflammation-reducing characteristics, have been clinically proven to be effective in preventing and managing such allergies and can be used also in children and sensitive patients.
The agreement is a result of a mutual commitment to improve patients’ accessibility to effective medication treatments. The addition of the anti-allergy group of products will greatly reinforce the strong consumer portfolio of Mundipharma, and will continue to cement the company’s position as a major contender in the over-the-counter space in the Middle East and Africa, addressing unmet needs of patients and physicians in these markets. Mundipharma expects to launch this family of products from 2016.
Dr. Ashraf Allam, Regional Vice President, Mundipharma Middle East and Africa region, said, “Our partnership agreement with bitop comes at a time when Mundipharma is stronger than ever, in both our consumer health and specialty businesses. Since the beginning of 2014, we have significantly strengthened the fundamentals of our business, solidified our presence in key markets and put in place robust engines for profitable growth, laying the groundwork for complementary transactions such as this one with bitop. This agreement is another step forward on our roadmap to reinforce our already strong position in the consumer health space,” said Dr. Ashraf Allam.
“bitop and Mundipharma share a commitment to innovation, quality, and helping people to live healthier and longer. We look forward to delivering the benefits of this transaction to our stockholders, and better serving patients, customers and healthcare systems throughout the Middle East and Africa,” he added.
Daniel Johannes Berger, Chief Executive Officer, bitop AG, stated: “The partnership with Mundipharma means a lot to us. We have consistently pursued the concept of Ectoin®-containing medical devices and developed innovative, high quality products with clinically proven safety and efficacy. That this concept has convinced Mundipharma is an important confirmation of our strategy.”[pq]We see Mundipharma as the perfect partner for the Middle East and Africa region and believe this partnership will result in a great success for both companies.[/pq] Innovative products in self-medication under the umbrella of an established, multinational pharmaceutical company: that is indeed a promising combination.”
– APO News