PRINCETON, N.J. and INDIANAPOLIS, Sept. 6, 2012 /PRNewswire/ -- Neura Therapeutik and AIT Laboratories have formed a strategic partnership to explore the possibility of co-promoting current and future analgesic products to pain specialty physicians. Under the terms of the agreement, Neura would support AIT's national sales force with its established commercial drug and development infrastructure.
In a 2011 report issued by Research and Markets, it is estimated that the U.S. market for pain management therapeutics will generate more than $40 billion annually and is expected to grow to $60 billion by 2015. This market includes treatments for a wide range of conditions including postoperative pain, cancer, arthritis, migraines and back pain. "Entering into this strategic partnership allows AIT to complement our existing laboratory testing and is consistent with AIT's position as a healthcare company offering healthcare practitioners options to help them treat patients with chronic pain," said AIT President and CEO Ron Thieme, Ph.D. AIT Laboratories is a national healthcare company specializing in compliance monitoring, forensics and clinical testing.
Neura Therapeutikis a pain specialty company led by a management team with years of experience in the analgesic market that has successfully launched blockbuster drugs such as Duragesic® and Vicodin ES®. "We are very excited about the collaboration with AIT and are confident that the efforts of their sales force will strengthen the position of our analgesic product portfolio," said Neura Therapeutik CEO John LaLota. "The addition of AIT's sales force, together with the efforts of our institutional sales force, will allow us to effectively educate pain treating physicians about the scientific value and patient benefits offered by our products and those of our co-promotion partners."
Chronic pain affects an estimated 116 million adults in the U.S. -- more than the number affected by heart disease, diabetes, and cancer combined, according to a report by the Institute of Medicine. "AIT has worked with healthcare practitioners treating chronic pain for many years and we know the challenges they sometimes face in finding relief for their patients," said Thieme. "The sophisticated data we provide from our laboratory reports coupled with information about new analgesics in the market, will give healthcare practitioners additional avenues to effectively treat their patients and improve patient outcomes."
About Neura Therapeutik:
Neura Therapeutik LLC (Neura) is a pain specialty company focused on the commercialization of innovative analgesics that address unmet needs in the marketplace. Neura is divided into two strategic business units:
- Neura Labs, LLC Focused on the in-licensing and launch of pharmaceutical assets where Neura's development and commercial experience can be leveraged to provide value enrichment through optimal clinical development and commercial advancement.
- Neura Group, LLC Focused on providing an array of commercial services and management oversight that will optimize the value of market ready/currently marketed assets.
- Please visit neuratherapeutik.com for more information.
About AIT Laboratories
AIT Laboratories, headquartered in Indianapolis, Ind., is a national healthcare company that specializes in compliance testing, forensic toxicology drug testing and clinical laboratory testing. The employee-owned company is recognized nationwide for superior customer service and quality in testing. To learn more about AIT, visit AITLABS.com; follow us on Twitter and like us on Facebook.
SOURCE AIT Laboratories