News

27/01/2003

Press Release 01/27/2003

Biolitec AG signs exclusive distribution agreements for Foscan® in Eastern and Mediterranean countries – Additional mid-term sales expectancy amounts to ca. EUR 14 mil.

Jena, January 27, 2003 – Biolitec AG has signed exclusive agreements with MEDIAL AG in Therwil, Switzerland, and Genesis Pharma SA in Athens, Greece, for the distribution of its photodynamic therapeutic drug Foscan®.

The sales agreements with the two distributors are a key module within the international marketing strategy of the therapeutic drug, which has been approved in October 2001, for the treatment of head and neck cancer.

In the Eastern-European market, distribution partner MEDIAL will exclusively market Foscan® in Poland, Hungary, Czech Republic, Slovac Republic, Bulgaria, Russia and Ukraine. Genesis Pharma SA will undertake the exclusive sales for the head and neck cancer drug in Greece, Cyprus, Slovenia, Croatia, Serbia, Bosnia, Macedonia and Albania.

The duration of both agreements is ten years. biolitec estimates the mid-term sales volume to ca. 2.000 units of Foscan®, worth ca. EUR 14 mil. These sales add to the company’s previous sales expectancy.

According to information of biolitec pharma Ltd. in Scotland, costs of the Foscan® treatment of palliative head and neck cancer are about 30 to 40 percent lower than alternative treatment methods, like chemotherapy or surgery.

As a result of the cost pressure in the European health care market, biolitec expects an increase in Foscan® applications for the treatment of palliative head and neck cancer.