OMACOR deal signed with new Euro partners

 

(Dec. 11, 2001) Norwegian company Pronova Biocare said Tuesday it has signed two separate licence and supply agreements for its pharmaceutical product OMACOR - one with Solvay Pharmaceuticals and the other with Grupo Ferrer Internacional.

The agreements include the important European markets of Germany, UK and Spain, and represent substantial growth in potential sales for OMACOR, a 92 percent concentrate of Omega-3 ethyl esters. Agreements covering Norway, Italy, France, the Far East and US already exist.

Pronova Biocare is responsible for developing and manufacturing OMACOR, while Solvay and Ferrer will handle sales, marketing and distribution. Pronova Biocare expects to recover its cumulative investment of some several hundred million Norwegian kroners.

Pronova Biocare developed OMACOR at the Norsk Hydro Research Center in Porsgrunn. Its active ingredient is made at Pronova Biocare's plant in Sandefjord, Norway. OMACOR is produced from unrefined marine oils and the finished product holds 84 percent of the Omega-3 ethyl esters EPA and DHA. OMACOR has passed rigorous pharmaceutical, pharmacological, toxicological and clinical testing to meet European Union requirements for pharmaceutical products. It has been tested in 61 different studies on more than 15,000 patients.

OMACOR is approved for the secondary prevention of Post-MI (heart attack) and for treating Hypertriglyceridemia (blood lipid disorder). OMACOR is approved in five EU countries: Germany, UK, France, Greece and Austria. OMACOR was approved for post-MI in 2001, based on the GISSI-study, which was performed in Italy on over 11,000 patients and in 172 hospitals. The study demonstrated a 20 percent reduction in total deaths, 30 percent drop in heart-related deaths and 45 percent decrease in sudden deaths. There are no reports of serious adverse effects related to the treatment

FACTS

  • Pronova Biocare is a world leader within manufacturing and developing Omega-3 fatty acids and has 150 years of experience in this field. Its business units are: Pharmaceuticals, Omega-3 bulk oil and Omega-3 consumer brands. Pronova Biocare is a part of Hydro Pronova, which is a fully owned subsidiary of Norsk Hydro. Norsk Hydro is one of the giants of Scandinavian industry within agriculture, light metals, oil and gas.

  • Solvay Pharmaceuticals is a member of the Solvay group of pharmaceutical and chemical companies operating globally with corporate offices in Europe, the US and Japan, and sales and marketing companies in more than 45 countries. It has research and development activities in the fields of psychiatry, gastroenterology, cardiology and hormone replacements.

  • Grupo Ferrer Internacional is a group of companies specialised in food, fine chemicals and pharmaceuticals, although pharmaceuticals represent Grupo Ferrer's main business. Their commercial activities cover Southern Europe, Central Europe and Latin America. Their four strategic therapeutic areas are: Cardiovascular, Gastrointestinal, Central Nervous System and Dermatology.