Pharmaxis (ASX:PXS) has entered into an exclusive distribution and supply agreement with global pharmaceutical company Chiesi Farmaceutici for commercialisation of its Bronchitol® (mannitol) treatment for cystic fibrosis.
Under the agreement, Chiesi will take over responsibility for the marketing, sales and distribution of Bronchitol from June 2015.
Chiesi is a research-focused international group with sales of over 1.3 billion euros (A$1.8 billion) in 2014, up 8% over 2013.
Bronchitol was launched in Germany in 2012, in the UK in 2013 and is planned to be launched in Ireland after the current assessment for reimbursement is concluded.
Pharmaxis will manufacture Bronchitol on commercial terms for Chiesi but, in the event it is independently sourced by Chiesi in the future, the agreement provides for Pharmaxis to receive an ongoing share of sales revenue.
The company has now substantially achieved its objective of securing experienced distributors for all major markets outside of Australia, enabling it to close its European commercial infrastructure and end its commercialisation contract with Quintiles.
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