Pharmaxis (ASX:PXS) has appointed United Medical as its exclusive distributor and sales representative for Bronchitol® cystic fibrosis treatment in Brazil.
United Medical, a well‐established healthcare company based in São Paulo, will also file a marketing approval application with the Brazilian regulatory agency (ANVISA) based on Bronchitol’s Australian approval.
This process is expected to take up to 18 months.
United Medical has a suite of products associated with the cystic fibrosis market and believes that Bronchitol represents a simple innovative and well rounded solution for patients to achieve a better quality of life.
Bronchitol® is a precision spray‐dried form of mannitol, delivered to the lungs by a specially designed, portable inhaler. The product is approved for marketing for patients aged over six years in Australia and for patients aged 18 years and over throughout the European Union.
Pharmaxis is trading at about two-thirds of cash backing with cash of $65 million, or $0.21 per share, as of 31 December 2012, compared to its current market capitalisation of $98.73 million and share price of $0.32.
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