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news.Canadian pharmaceutical company Labopharm has signed an agreement that will allow Italian based company Recordati to distribute once-daily tramadol in the UK.
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Under terms of the agreement, Recordati will have the exclusive right to market and sell Labopharm’s product in the UK. Labopharm will provide Recordati with the finished packaged product.
In return, Labopharm will receive an up front payment and additional payments upon achieving certain milestones. Labopharm will share revenue from product sales, resulting in an effective royalty rate commensurate with those of previous licensing and distribution agreements that Labopharm has entered into for European markets.
“With this agreement, we have access to the third largest European market for tramadol products, and have established marketing partnerships covering almost all of the existing European tramadol market, including the top five countries,” said James Howard-Tripp, president and CEO, Labopharm.
The UK is the third largest European market for tramadol products by dollar sales. Demand for tramadol products in the UK reached more than $104 million for the 12 months ended June 2005 and has grown at a compound annual growth rate of 17% over the five preceding 12-month periods.