Luye Pharma Grants Cipla Medpro Exclusive Distribution and Marketing Rights for Seroquel® and Seroquel XR® in South Africa and Certain Neighbouring Countries
HONG KONG, Feb. 10, 2020 /PRNewswire/ -- Luye Pharma Group has announced that it has entered into an exclusive distribution and marketing service agreement with Cipla Medpro South Africa (Pty) Limited (Cipla Medpro), for Seroquel® and Seroquel XR® in South Africa, Namibia and Botswana. Cipla Medpro is a wholly-owned subsidiary of Cipla Limited, India (Cipla), a global pharmaceutical company.
Seroquel® (quetiapine fumarate, immediate release, IR) and Seroquel XR® (extended release formulation) are atypical anti-psychotic medicines with antidepressant properties. The main indications for Seroquel are the treatment of schizophrenia and bipolar disorder. Seroquel XR® is also approved in some markets for major depressive disorder and generalised anxiety disorder. AstraZeneca is the originator of the two products. In 2018, Luye Pharma and AstraZeneca entered into an asset purchase and license agreement, under which AstraZeneca transferred to Luye Pharma certain assets and granted to Luye Pharma a licence-related to Seroquel® and Seroquel XR® in certain territories covering 51 countries and regions, including China, South Africa, Namibia, Botswana, the United Kingdom, Brazil, Australia, Saudi Arabia, Mexico, South Korea, Thailand, Argentina, Malaysia and other countries and regions in Asia, Latin America, Africa, Oceania and Eastern Europe.
Luye Pharma granted the distribution and marketing rights to Cipla Medpro in South Africa and neighbouring countries on the basis of its robust business network and resources in local markets. The move will further expand accessibility of the Seroquel series of products, bringing their benefits to more patients, as well as contributing to strong growth by leveraging Cipla Medpro's wide network and rich experience in distribution and marketing as the third largest private pharmaceutical company in South Africa.
The central nervous system (CNS) therapeutic area is one of Luye Pharma's core therapeutic areas. In addition to Seroquel® and Seroquel XR®, the company also has a number of other established brands and products targeting the CNS field, such as Rivastigmine Transdermal Patch, with coverage of more than 80 countries and regions including China, the U.S., Europe, Japan and other major pharmaceutical markets, as well as fast-growing international emerging markets. In addition, Luye Pharma has a number of investigational drugs for the CNS therapeutic area already in the late clinical trials and NDA phase. Luye Pharma is working tirelessly to accelerate the development and launch of these drugs in order to benefit more patients around the world.
About Luye Pharma Group
Luye Pharma Group is an international pharmaceutical company dedicated to the R&D, manufacturing and sale of innovative medications. The company has established R&D centers in China, the U.S. and Europe, with a robust pipeline of nearly 40 drug candidates in China and more than 10 drug candidates overseas. Along with a number of new drugs and new formulations in the central nervous system and oncology therapeutic areas under study in the U.S. Europe and Japan, Luye Pharma has reached high-level international standards in novel drug delivery technologies including microspheres, liposomes, and transdermal drug delivery systems, as well as actively making strategic developments in the fields of innovative compounds, antibodies, cell therapies and gene therapies, among others.
Luye Pharma is developing a global supply chain of 7 manufacturing sites with over 30 production lines in total, establishing GMP quality management and international standard control systems. With more than 30 products covering the central nervous system, oncology, and other therapeutic areas, business is conducted in over 80 countries and regions around the world, including the largest pharmaceutical markets - China, the U.S., Europe and Japan, as well as in fast growing emerging markets.
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SOURCE Luye Pharma
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