Enorama Pharma AB (publ) (”Enorama Pharma” or ” the Company”) has entered into a license and supply agreement with betapharm Arzneimittel GmbH (”betapharm”) regarding sale of the Company’s nicotine chewing gum in Germany.
As previously communicated, Enorama Pharma and betapharm have entered into a Term-Sheet agreement regarding sale of the Company’s nicotine chewing gum in Germany. The Company and betapharm have now also agreed on a more comprehensive license and supply agreement.
The license and supply agreement has an initial term of ten years and confirms the conditions of the Term-Sheet agreement providing the final terms. betapharm is granted a conditional exclusive right to market, sell and distribute the Company’s nicotine chewing gum in Germany. The exclusivity is agreed for five years and is further conditioned on fulfilment of minimum quantities in relation to market share.
Betapharm is a wholly owned subsidiary of Dr. Reddy's Laboratories Ltd which distributes high quality, affordable generic products. The company's product portfolio in Germany includes prescription drugs and OTC formulations for several major indications.
“We are very positive that we have now agreed on a more comprehensive licensing and supply agreement. Another foundation is in place for the upcoming market launch. Germany with its 83 million inhabitants, more than 17 million smokers and about 19,000 pharmacies provides a market with great potential for smoking cessation products. In addition, Germany is included in the MRP application that reached the final stage yesterday with the positive message that our nicotine gum meets all the requirements for approval”, says CEO Mats Rönngard, Enorama Pharma.