BALTIMORE, June 23 /PRNewswire/ -- Lupin Pharmaceuticals, a subsidiary of Lupin Ltd., announced today that the Company has entered into a promotion agreement for Suprax(R) 400 mg Tablets with ASCEND Therapeutics, Inc.
Under the terms of the alliance, ASCEND Therapeutics will initiate promotion of the product in the U.S. in the month of June 2008. ASCEND has a 50-person Women's Health sales force which will detail the product primarily to Obstetricians and Gynecologists (OB/GYNs). Lupin will continue to promote the product to Pediatricians and Family Practitioners.
The antibiotic market for treatment of Urinary Tract Infections (UTIs) is USD 450 million, and the OB/GYN area is among the top three physician specialties prescribing antibiotics for treatment of UTIs.
"We are pleased to enter into this strategic alliance with ASCEND. We believe ASCEND's existing equity with the OB/GYN specialty will help Lupin to fully explore and leverage an additional opportunity for promoting Suprax(R) 400 mg Tablets. This alliance reflects Lupin's commitment to building the Suprax(R) franchise and enhancing the value of brand business in the U.S.," said Vinita Gupta, President, Lupin Pharmaceuticals, Inc.
"We are very excited about adding Suprax(R) 400 mg Tablets to our portfolio of products which we market to Women's Health professionals," said Jay Bua, President, ASCEND Therapeutics. "There are over 8 million patient visits for UTIs each year, with the vast majority of these experienced by women. Suprax(R) 400 mg Tablets is an established antibiotic with a favorable safety profile and proven track record in effectively treating UTIs and other bacterial infections. We very much look forward to a long and productive collaboration with Lupin."
Lupin Pharmaceuticals, Inc., headquartered in Baltimore, Maryland, is the wholly owned U.S. subsidiary of Mumbai-based Lupin Limited, a leading Indian pharmaceutical company. Lupin Limited develops, manufactures and markets a wide range of quality, affordable generic and branded generic formulations and APIs for both the developed and the developing markets of the world. Twelve of Lupin's facilities have been inspected and approved by the U.S. Food & Drug Administration.
For the year ended March 2008, Lupin's consolidated revenues and profit after tax were USD 660.23 million and USD 97.21 million, respectively.
The Company has secured a global leadership position in anti-TB products and cephalosporins and has a significant presence in the areas of cardiovasculars (prils and statins), diabetology, asthma and NSAIDs. Currently positioned among the top five pharmaceutical companies in India, the Company is committed to achieving sustainable earnings and growth for all its stakeholders. For more information, visit http://www.lupinpharmaceuticals.com.
About ASCEND Therapeutics
ASCEND Therapeutics is a biopharmaceutical company focused on the use of transdermal drug delivery technology to overcome therapeutic barriers and raise the standard of care for certain chronic conditions. For more information about ASCEND, you may visit the company's web site at http://www.ascendtherapeutics.com.
Safe Harbor Statement under the U. S. Private Securities Litigation Reform Act of 1995:
This release contains forward-looking statements that involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Many of these risks, uncertainties and other factors include failure of clinical trials, delays in development, registration and product approvals, changes in the competitive environment, increased government control over pricing, fluctuations in the capital and foreign exchange markets and the ability to maintain patent and other intellectual property protection. The information presented in this release represents management's expectations and intentions as of this date. Lupin expressly disavows any obligation to update the information presented in this release.
CONTACT: Atul Gokhale, General Manager -- Marketing of Lupin
Web site: http://www.lupinpharmaceuticals.com/