MILAN, ITALY and HONG KONG--(Marketwire - March 15, 2010) -
Distribution agreement signed
between the companies for the marketing of lercanidipine tablets in China
Milan and Hong Kong, 15 March 2010 - Lee's Pharmaceutical Holdings Limited
(GEM Stock: 8221: Website: www.leespharm.com) today announced in
conjunction with Recordati S.p.A. (RECI.MI, REC IM, ISIN IT0003828271.
Website www.recordati.com), a European pharmaceutical group, the execution
of a License and Supply Agreement for Recordati's original product
Zanidip® (lercanidipine) in China. The agreement grants Leespharm an
exclusive license to market and sell Zanidip® (lercanidipine tablets) for
the treatment of hypertension in the People's Republic of China.
"We are delighted to enter into this partnership with Leespharm for
Zanidip®. This represents a new step in our international partnering
strategy" said Giovanni Recordati, Chairman and CEO of Recordati.
"Leespharm is a highly capable development and commercial organization in
China and we look forward to working with Leespharm toward the common goal
of enriching the distribution network in Asia for Zanidip® for the
benefit of patients with hypertension."
"We are excited to announce this partnership with Recordati for Zanidip®.
In the light of increasing prevalence of hypertension among Chinese, the
favorable efficacy and safety profile of lercanidipine could be a
preferable choice for antihypertensive treatment across a broad range of
patients," stated Dr. Benjamin Li, the Chief Executive Officer of
Leespharm. "China reports more than 200 million patients suffering from
hypertension, it is expected that there will be an acceleration of
penetration of Zanidip® in China market in the near future."
About Zanidip® (lercanidipine)
Zanidip® (lercanidipine) belongs to a group of medicines called calcium
channel blockers (CCB's) which is widely prescribed for the treatment of
hypertension. Zanidip® (lercanidipine) is a dihydropyridine (DHP) with an
intrinsic long-acting hypertensive effect which exhibits a slow onset of
action to help avoid reflex tachycardia. It is effective in reducing blood
pressure over a 24 hour period with once daily dosing. Lercanidipine is
effective across a wide range of patient groups, including the elderly as
well as younger patients and diabetic patients with hypertension. It has
equivalent antihypertensive efficacy to many other agents and is effective
as initial monotherapy or in combination. The efficacy and tolerability
profiles of lercanidipine make it a suitable choice for treating
hypertension in a wide range of affected patients. Furthermore,
lercanidipine causes less peripheral oedema than other CCB's at equivalent
antihypertensive doses.
About Lee's Pharmaceutical
Lee's Pharmaceutical Holdings Limited is a public biopharmaceutical company
with over 15 years operation in China's pharmaceutical industry. It is
fully integrated with solid infrastructures in drug development, clinical
development, regulatory, manufacturing, sales and marketing in China with
global perspectives and currently markets six products. Leespharm focuses
on several different areas such as cardiovascular and infectious diseases,
dermatology, oncology, gynecology and others. It has more than 20 products
under different development stages stemming from both internal R&D as well
as from the recent acquisition of licensing and distribution rights from
various US and European companies. The mission of Lee's is to become a
successful biopharmaceutical group in Asia providing innovative products to
fight diseases and improve health and quality of life.
About Recordati
Recordati, established in 1926, is a European pharmaceutical group, listed
on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT
0003828271),with a total staff of over 2,950, dedicated to the research,
development, manufacturing and marketing of pharmaceuticals. It has
headquarters in Milan, Italy, operations in the main European countries,
and a growing presence in the new markets of Central and Eastern Europe. A
European field force of over 1,450 medical representatives promotes a wide
range of innovative pharmaceuticals, both proprietary and under license, in
a number of therapeutic areas including a specialized business dedicated to
treatments for rare diseases. Recordati's current and growing coverage of
the European pharmaceutical market makes it a partner of choice for new
product licenses from companies which do not have European marketing
organizations. Recordati is committed to the research and development of
new drug entities within the cardiovascular and urogenital therapeutic
areas and of treatments for rare diseases. Consolidated revenue for 2009
was ÂEUR 747.5 million, operating income was ÂEUR 162.2 million and net
income was ÂEUR 110.6 million.
For further information about Recordati:
Website: www.recordati.com
Investor Relations Media Relations
Marianne Tatschke Claudio Rossetti (Echo Comunicazione d'Impresa)
(39)0248787393 (39)02 62694736
e-mail: inver@recordati.it e-mail: crossetti@echocom.it
For further information about Lee's Pharmaceutical:
Website: www.leespharm.com
Contact
Vivian Fung
(852)2314-1282
info@leespharm.com
Statements contained in this release, other than historical facts, are
"forward-looking statements" (as such term is defined in the Private
Securities Litigation Reform Act of 1995). These statements are based on
currently available information, on current best estimates, and on
assumptions believed to be reasonable. This information, these estimates
and assumptions may prove to be incomplete or erroneous, and involve
numerous risks and uncertainties, beyond the Company's control. Hence,
actual results may differ materially from those expressed or implied by
such forward-looking statements. All mentions and descriptions of Recordati
products are intended solely as information on the general nature of the
company's activities and are not intended to indicate the advisability of
administering any product in any particular instance.
This information is provided by HUGIN
