LAVAL, QC, Nov. 17 /PRNewswire-FirstCall/ - Labopharm Inc. today announced that its marketing partner for Germany, HEXAL AG, has launched the Company's once- daily tramadol product in that country. More than 400 sales representatives will market the product under the brand name Tramadolor(R) einmal taeglich.
"We are very proud to announce the initial launch of our product in Europe," said James R. Howard-Tripp, President and Chief Executive Officer, Labopharm Inc. "Launch in Germany is the first in what will be a series of 22 launches in key markets throughout Europe. The European tramadol market represents a significant opportunity with annual sales of more than US$630 million (500 million Euros) and a compound annual growth rate over the past five years in excess of 15%. As the leading marketer of tramadol products in Germany, our partner is well positioned to maximize this opportunity."
Tramadolor(R) einmal taeglich will be marketed with the broad common label approved under the Mutual Recognition Procedure, which designates it as a once-daily product for the treatment of moderate to severe pain, including both acute and chronic conditions, for use in a dose range from 100 to 400 mg per day. It will be available in three dosage strengths (100 mg, 200 mg and 300 mg) and three pack sizes (20 tablets, 50 tablets and 100 tablets).
Germany is the second largest European market for tramadol products by dollar value. For the 12-month period ended June 2005, German sales of tramadol products exceeded US$129 million. Over the past five years, German tramadol sales have grown at a compound annual rate of over 10%.
About HEXAL AG
HEXAL AG is a leading international pharmaceutical company specializing in the development, production and marketing of modern generic medications and innovative pharmaceutical preparations. The company has a diverse product range based on approximately 200 active ingredients. HEXAL has approximately 7000 employees in more than 40 countries, and had annual sales of approximately 1.3 billion Euros in 2004. In 2005, Novartis AG acquired HEXAL AG but HEXAL is carrying on its business activities in Germany as an independent company.
About Labopharm Inc.
Labopharm Inc. is an international, specialty pharmaceutical company focused on the development of drugs incorporating Contramid(R), the Company's proprietary advanced controlled-release technology. Labopharm's lead product, a once-daily formulation of the analgesic tramadol, has received regulatory approval in 22 European countries. In the U.S., where the Company is planning to file an NDA for once-daily tramadol before the end of 2005, it has secured a licensing and distribution agreement with Purdue Pharma L.P., the premier marketer of long-acting pain medications in that country. The Company's pipeline includes a combination of in-house and partnered programs with products both in clinical trials and in preclinical development. For more information, please visit www.labopharm.com.
This press release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events. The forward- looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors, including the successful and timely completion of clinical studies, the uncertainties related to the regulatory process and the commercialization of the drug thereafter. Investors should consult the Corporation's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Corporation disclaims any obligation to update these forward-looking statements.
Labopharm Inc.CONTACT: At Labopharm Inc., Warren Whitehead, Chief Financial Officer,Tel: (450) 686-1017, ir@labopharm.com; At The Equicom Group, Jason Hogan -Toronto, Investor Relations, Tel: (416) 815-0700, jhogan@equicomgroup.com;At Labopharm Europe Limited, Anthony C. Playle, Managing Director, Tel:011-353-1854-0151, aplayle@labopharm.com; At Feinstein Kean Healthcare,Harriet Ullman - United States, Media and Investor Relations, Tel: (617)577-8110, hullman@fkhealth.com
