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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
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»13/07/2009 [Industry news]
NovaMed expands cardio, oncology pipelines in China

NovaMed Pharmaceuticals has signed two new agreements with Iroko and EUSA Pharma, both of which significantly reinforce NovaMeds position in two strategic therapy areas - cardiovascular and oncology.

 
NovaMed Pharmaceuticals has signed two new agreements with Iroko and EUSA Pharma, both of which significantly reinforce NovaMeds position in two strategic therapy areas - cardiovascular and oncology. NovaMed is a China-based pharmaceutical company that provides outsourced drug development and commercialization services for global pharmaceutical and biotechnology companies. Under the new deals, NovaMed has become the exclusive partner for both Aggrastat from Iroko and Erwinase from EUSA Pharma. According to the company, these two deals are a testimonial of NovaMed\'s capacity for new business growth and serve to strengthen the company\'s position as the leading in-licensing pharmaceutical company in China. In less than three years since its foundation, NovaMed has established partnerships with a number of world-leading pharmaceutical companies, including Sanofi-Aventis, Pfizer, Baxter, Meda, Bio Alliance, and Orexo. Aggrastat (Tirofiban) is the third cardiovascular drug to be introduced to China by Novamed, following the successful domestic launches of both Tritace (Ramipril) for hypertension and Naftilan (Fenofibrate) for hyperlipidemia. Aggrastat is proven to be significantly effective in improving the results of primary coronary angioplasty in patients with myocardial infarction. The company believes, addition of Aggrastat will further strengthen NovaMed\'s presence in the cardiovascular area, one of the most important strategic focuses for the company. Simultaneously, NovaMed continues to strengthen its product offerings in the Chinese oncology market by introducing Erwinase (Crisantaspase), another novel drug into China. Erwinase is used to treat patients with acute lymphoblastic leukemia (ALL) who develop hypersensitive reaction to asparaginase extracted from E. coli, in which approximately 30 percent of ALL patients are allergic to. Survival rate for patients who switch to Erwinase at the first sign of hypersensitivity to E.coli asparaginases is significantly increased. Commenting on the deal, Mr Mark Lotter, CEO and founder of NovaMed, said: The recent agreements have allowed NovaMed to enter an exciting new growth phase in the company\'s development. The unprecedented level of success of in-licensing novel molecules for the China market, places the company in a unique position amongst emerging pharmaceutical and biotech entities. The company\'s positioning in cardiovascular and oncology will be significantly strengthened through these agreements. The company has delivered on its commitment to build a leading specialty company in China in a number of core therapeutic areas, thereby allowing NovaMed to take on a leading position in China.

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