Under the agreement, Pharmasyntez has gained rights to market and distribute Oasmia’s Paclical in Russia and the countries encompassed by the Commonwealth of Independent States (CIS).
The agreement, which includes profit sharing on net sales in the region between the two companies, will allow Pharmasyntez to finance and carry out all marketing and sales activities, while Oasmia will be responsible for product development and manufacturing.
Pharmasyntez OAO president Vikram Punia said, "We expect to have a very successful business for Paclical in Russian Federation."
Paclical is a nanoparticle formulation, which is comprised of Oasmia’s patented excipient XR-17 and the anti-cancer substance paclitaxel.