Solvay signs AndroGel expansion deal
Belgian drugmaker Solvay Pharmaceuticals says it has signed an agreement with France's Besins International covering the expanded distribution of its testosterone replacement therapy, AndroGel, around the world. The drug, which Solvay acquired along with its purchase of US company Unimed Pharma in 1999 (Marketletters passim), is designed to treat low testosterone levels in hypogonadal males, and is one of the firm's best-performing products, yielding sales of 235.0 million euros ($286.0 million) last year.
Under the terms of the accord, Solvay has acquired exclusive distribution rights for the product in Latin America, in addition to several countries in Asia and Africa. The firm added that it has semi-exclusive rights to market the product in five additional European countries (France, Belgium, Spain, Greece and the UK).
Sjirk Kok, senior vice president of global product strategy at Solvay, said that the company was pleased with its planned global expansion of Androgel, adding that there is a significant unmet need for the drug worldwide.
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