DEERFIELD, Ill., June 19, 2012 /PRNewswire/ -- Horizon Pharma, Inc. (NASDAQ: HZNP) a biopharmaceutical company developing and commercializing innovative medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases, today announced that it entered into an exclusive agreement with Grunenthal for the commercialization of DUEXISin Latin America.
"As this is our first out-license of DUEXIS outside the United States, we are especially pleased to partner in Latin America with Grunenthal, a worldwide leader in the promotion of pain products," said Timothy P. Walbert, chairman, president and chief executive officer of Horizon Pharma. "This agreement, in addition to our recent U.S. co-promotion with Mallinckrodt, the pharmaceutical business of Covidien, is a continuation of our strategy to expand the availability of DUEXIS to patients worldwide."
"We are excited about the addition of DUEXIS to our existing product portfolio in Latin America," said Jose Maria Mora, acting executive vice president, Grunenthal Latin America.
DUEXIS, a proprietary single-tablet combination of the NSAID ibuprofen and the histamine H2-receptor antagonist famotidine, is indicated in the United States for the relief of signs and symptoms of rheumatoid arthritis and osteoarthritis and to decrease the risk of developing upper gastrointestinal ulcers, which in the clinical trials was defined as a gastric and/or duodenal ulcer, in patients who are taking ibuprofen for those indications. The clinical trials primarily enrolled patients less than 65 years of age without a prior history of gastrointestinal ulcer. Controlled trials do not extend beyond 6 months. For more information, please visit www.DUEXIS.com.
About Horizon Pharma
Horizon Pharma, Inc. is a biopharmaceutical company that is developing and commercializing innovative medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases. For more information, please visit www.horizonpharma.com.
The Grunenthal Group is an independent, family-owned, international research-based pharmaceutical company headquartered in Aachen, Germany. Building on its unique position in pain, its objective is to become the most patient-centric company and thus to be a leader in therapy innovation. Grunenthal is one of the last five research-oriented pharmaceutical corporations with headquarters in Germany which sustainably invests in research and development. These investments amounted to about 25 percent of revenues in 2011. Grunenthal's research and development strategy concentrates on select fields of therapy and state-of-the-art technologies. Grünenthal focuses on intensively pursuing new ways to treat pain better, more effectively and with fewer side-effects. Altogether, the Grunenthal Group has affiliates in 26 countries worldwide. Grunenthal products are sold in more than 155 countries and today approximately 4,200 employees are working for the Grunenthal Group worldwide. In 2011, Grunenthal achieved revenues of euro 947 Million.
This press release contains forward-looking statements, including statements regarding Horizon and its business prospects and strategy, including the potential for success of the collaboration with Grunenthal. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release, and actual results may differ materially from those in these forward-looking statements as a result of various factors described in Horizon's filings with the United States Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in those filings. Forward-looking statements speak only as of the date of this press release, and Horizon undertakes no obligation to update or revise these statements, except as may be required by law.
Robert J. De Vaere
Executive Vice President and Chief Financial Officer
Burns McClellan, Inc.
SOURCE Horizon Pharma, Inc.