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news.Sweden-based pharmaceutical company Orexo and Neopharm, a biopharmaceutical company, have signed an exclusive distribution agreement that grants Neopharm rights to market and sell Abstral, Orexo's product for treatment of breakthrough cancer pain, in Israel.
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Orexo will supply Neopharm with Abstral product in Israel and receive significant margin on the sales of the product.
The agreement also includes milestone payments; however the financial terms are not disclosed. Neopharm will also be responsible for managing the regulatory approval process in Israel.
Torbjorn Bjerke, president and CEO of Orexo, said: “This agreement with Neopharm will enable sales of Abstral on additional geographic markets and is another step in developing Orexo into a profitable pharmaceutical company.”