Algeta prepares for Alpharadin US launch, opening US base

In anticipation of the launch of Alpharadin (radium-223 chloride), for the treatment of cancer patients with bone metastases, Norwegian cancer drug developer Algeta ASA (OSE: ALGETA), yesterday officially opened the offices and facilities of Algeta US in Cambridge, Massachusetts.

In September 2009, Algeta signed an agreement with German drug major Bayer (BAYN: DE) for the development and commercialization of Alpharadin. Under the terms of the agreement, Bayer will develop, apply for global health authority approvals and commercialize Alpharadin globally. Under a deal earlier this year, Algeta will co-promote the drug with Bayer in the USA (The Pharma Letter April 13).

Jeff Albers, president of Algeta US, commented: "Algeta Group's expansion to the USA is an important step toward realizing our vision for building a global oncology company commercializing innovation. We have brought on experienced sales, marketing and medical affairs executives to build our US commercial operation and plan to deliver a phased build-up of resources in anticipation of a US commercial launch, with Bayer, of Alpharadin if approved by FDA."