Enzymatica and STADA extend agreement on ViruProtect to Russia, Poland, Ukraine and CIS countries
Enzymatica has licensed to STADA exclusive rights to market and sell the common cold spray ViruProtect® (ColdZyme®) in Russia, Poland, Ukraine and 11 further countries in the CIS and Central Asia.
The agreement builds on the two companies' existing successful partnership to market ViruProtect, a locally-acting medical device treating and alleviating common cold, in more than 20 European countries.
Russia, Poland, Ukraine and the other CIS countries represent large and growing consumer healthcare markets in which STADA has a substantial commercial footprint and sales and marketing infrastructure.
STOCKHOLM, Oct. 13, 2020 /PRNewswire/ -- Enzymatica AB and STADA Arzneimittel have expanded their successful commercial partnership for ViruProtect to cover Russia, Poland, Ukraine and 11 further countries in the CIS and Central Asia - Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Mongolia, Tajikistan, Turkmenistan and Uzbekistan. Launches through STADA's local operations in these countries are scheduled for during 2021.
In Russia, STADA recently become the leading international consumer healthcare player after acquiring a portfolio of brands from Takeda in March this year, and also by acquiring the well-known Coldrex cold and flu remedy from GlaxoSmithKline.
Russia has a large and growing consumer healthcare market that was valued at EUR 7.6 bn at retail prices and expanded by 8.0% in the 12 months ended June 2020, according to IQVIA OTCIMS data. Cough and cold products make up more than a quarter, or just over EUR 2.0 bn, of the country's OTC market in this period.
Stephan Eder, STADA's EVP Russia and CIS countries STADA, sees ViruProtect as a highly attractive addition to STADA's consumer healthcare portfolio in the region: "As the largest foreign investor in the Russian pharmaceutical sector, STADA is ideally placed to bring this innovative and effective product to consumers and pharmacists as a go-to-partner in Russia, as well as in Poland, Ukraine and CIS markets," he insists. "In all of these markets, we have a strong marketing and sales team supporting physicians and pharmacies and delivering on our purpose of caring for people's health as a trusted partner."
"We are very pleased to have achieved the extended agreement with STADA. With its strong market positions, not the least in Russia, we see good opportunities for ViruProtect to become a well-established brand in the cough & cold market," says Claus Egstrand, Chief Operating Officer at Enzymatica.
In Poland, retail sales of cough and cold products were just over EUR 600 million in the 12 months ended June 2020, according to IQVIA OTCIMS data. Cough and cold products made up more than a fifth of Poland's total OTC market that expanded by 5.4% to almost EUR 2.8 billion in the 12-month period. STADA Poland recently approximately doubled its local consumer healthcare presence, in part by acquiring from GlaxoSmithKline the Orofar and Cholinex sore-throat treatments.
Acquiring the Coldrex brand from GlaxoSmithKline has also strengthened STADA's cough and cold presence in Ukraine, where the company has a strong commercial and manufacturing presence.
Recent acquisitions, including the Takeda brands transaction, have also given STADA top-five positions in the expanding consumer healthcare sectors in CIS countries including Kazakhstan, Azerbaijan and Moldova.
ViruProtect - also marketed as ColdZyme in certain markets - is a class III medical device containing glycerol and the natural enzyme trypsin. In in vitro studies, the cold spray was effective against over 90% of main cold-causing viruses2, and clinical studies have shown that the duration of common cold can be shortened in comparison to placebo3.
Launches of ViruProtect are currently underway in several of STADA's European markets under an extended licensing agreement announced in May this year.
2 A medical device forms a protective barrier in the throat that deactivates five major common cold viruses. B. Stefansson, A. Gudmundsdottir, M. Clarsund, Swe ENT Congress 2018
3COLDPREV - A Randomized, Double-Blind, Placebo-Controlled Pilot Clinical Study on ColdZyme® Mouth Spray against Rhinovirus-Induced Common Cold.OJRD, 2017, 7, 125-135
The information in this press release is information that Enzymatica is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08.30 am CET on October 13, 2020.
For more information, please contact:
Claus Egstrand, Chief Operating Officer Enzymatica AB
Phone: +44 7780 22 8385 | E-mail: email@example.com
Carl-Johan Wachtmeister, Communication manager Enzymatica AB
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STADA Arzneimittel AG / Media Relations
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About STADA Arzneimittel
STADA Arzneimittel AG is headquartered in Bad Vilbel, Germany. The company focuses on a two-pillar strategy consisting of generics, including specialty pharmaceuticals and non-prescription consumer health products. Worldwide, STADA sells its products in approximately 120 countries. In financial year 2019, STADA achieved adjusted Group sales of EUR 2,608.6 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 625.5 million. STADA employs more than 12,400 people worldwide.
About Enzymatica AB
Enzymatica AB is a Swedish life science company that develops and sells health care products for primarily conditions of the ear-nose-and-throat region. The products are based on a barrier technology that includes marine enzymes. The company's first product is the medical device ColdZyme®, a mouth spray against common cold. The product has been launched in 15 countries on 3 continents. The strategy is to continue to grow by developing more health care products and strengthening the company's position in existing markets and expanding into new geographic markets through established partners. The company has its headquarters in Lund and is listed on Nasdaq First North Growth Market. For more information, visit: www.enzymatica.com and www.enzymatica.se/en/section/media/press-releases
Enzymatica's certified adviser is Erik Penser Bank. Phone: +46 (0)8 463 83 00. Email: email@example.com
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