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news.BioSyent Pharma, a subsidiary of Canada-based specialty pharmaceutical firm BioSyent, has signed an exclusive Canadian licence and distribution agreement with an existing European partner for a gastrointestinal health product that has already been approved by Health Canada.
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The company said that the licence agreement is with the same partner that will be supplying the women’s health product that is being prepared for launch in the second quarter of 2014.
The new gastrointestinal health product has been approved and is being successfully marketed in several European countries.
BioSyent CEO René Goehrum said pre-launch preparations have started and the company is planning for a Q4 2014 launch of the new gastrointestinal product.
"It will be a good complement to both our existing promotion activities with healthcare practitioners, and to our Hospital Products group," Goehrum said.
"This product is also a direct complement to the women’s health product which we will be launching in a couple of months."
The new agreement brings the total number of products that the company has licensed from European partners to five.
Out of the five, one is approved and in the market (Cathejell), two more are already approved and will be launched in 2014, and the remaining two are in the process of review for approval by Health Canada.
The company said that along with FeraMAX 150 and FeraMAX Powder, it now has a product portfolio of seven.