ProEthic in US deal for Lipofen

ProEthic Pharmaceuticals says it has entered into a definitive licensing and distribution agreement with fellow US firm Cipher Pharmaceuticals, under which the latter has granted it the exclusive right to market, sell and distribute Lipofen, a novel, patented formulation of fenofibrate, in the USA, its territories and possessions. Lipofen is used in the treatment of hyperlipidemia

Carl Whatley, chief executive of ProEthic, stated that "Lipofen will be the lead product for the company as we seek to build our presence in the important primary care space. Total fenofibrate prescriptions have increased strongly over the past several years, with US prescriptions rising 18% in 2006. Demand for the molecule is expected to rise in the coming years based on demographic trends and the increasing awareness of the need to manage a patient's total cholesterol profile."

Larry Andrews, CEO of Cipher, noted that it will work with "ProEthic's sales and marketing team to commercialize this product in the fast-growing, $1.1 billion US fenofibrate market."