Orion signs Nordic distribution for Oasmia's Paclical

Sweden's Oasmia Pharmaceutical and Finnish health care firm Orion Corp have entered a license and distribution agreement for marketing and sales of the human cancer drug Paclical (micellar paclitaxel) in the Nordic region, encompassing Sweden, Denmark, Norway, Finland and Iceland.

The product is currently entering Phase III development by Oasmia, with ovarian cancer as the target indication. Orion receives the exclusive rights in the Nordic region to distribute and sell the product. Orion will also have right of first refusal for one more cancer drug candidate in the Oasmia product portfolio in this region.

According to the agreement, Oasmia will receive payments of 4.0 million euros ($5.9 million), partly up front and partly subject to a successful development and regulatory process for Paclical, as well as royalties from the sales. Oasmia will be responsible for the clinical development, registration and production of Paclical, which is currently entering into clinical Phase III and further studies in ovarian cancer are planned for the first quarter of 2008. Other indications will follow during the same year, the firms noted, adding that Orion will be responsible for the distribution and sales in the Nordic region after registration.