Phebra gains right to market Syntometrine in Australia

Australian privately-held specialty pharmaceutical company Phebra has signed an exclusive commercial agreement with UK-based pharmaceutical firm Alliance Pharma (AIM: APH) to supply the Australian market with Syntometrine (oxytocin/ergometrine), a critical obstetric drug.

Syntometrine is used as an injection in the final stage of labor – to assist in the delivery of the placenta and to prevent hemorrhaging after birth. Earlier this year, Alliance Pharma, which already held UK rights to the drug, all existing rights to Syntometrine from Swiss pharma major Novartis (NOVN: VX) for a consideration of $11.5 million. Novartis and its affiliates had been selling Syntometrine in a number of countries worldwide including Australia, South Africa, Malaysia and New Zealand. In the 12 months to March 2013 the total sales of Syntometrine by the Novartis group were $3.2 million.

Phebra’s chief executive, Mal Eutick, said that his company will undertake all sales and distribution for Syntometrine in Australia after winning a competitive tender issued by Alliance Pharma, which owns the rights to Syntometrine.