ALK and Abbott expand partnership into South-East Asian growth markets
Copenhagen, 2016-01-28 08:30 CET (GLOBE NEWSWIRE) --
ALK (ALKB:DC / OMX: ALK B / AKABY / AKBLF) today announced an expansion of its partnership with Abbott under which Abbott will register and sell ALK’s house dust mite (HDM) sublingual allergy immunotherapy (SLIT) tablet (ACARIZAX® in Europe) in seven new growth markets in South-East Asia.
Under the terms of the deal, Abbott gains exclusive rights to register, promote and distribute the product in Hong Kong, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand. ALK and Abbott will share the revenue generated in the territory where ALK will be responsible for product supply to Abbott.
Regulatory submissions in the new markets are expected to be based upon ALK’s regulatory filing which was approved by European authorities in August 2015. As a result, the first launches in South-East Asia are expected to take place from 2017 onwards.
Since 2014, Abbott has had exclusive rights to commercialise ALK’s SLIT-tablets covering HDM, grass, ragweed and tree allergies in Russia and other surrounding countries.
Flemming Pedersen, EVP and CFO of ALK, said: “This new agreement between ALK and Abbott continues our strategic progress as we expand our commercial reach and work to globalise our most important new product for patients suffering from not well-controlled house dust mite allergic rhinitis and asthma. The seven markets comprised by this agreement cover a total population of more than 350 million people in fast growing economies where house dust mite allergy is the most prevalent allergy.”
ACARIZAX® has already gained approval in Europe for use in patients with allergic rhinitis and allergic asthma. In Japan, the product has recently been launched by ALK's partner Torii under the name MITICURE™ for patients with allergic rhinitis. It is also being developed for a number of other markets around the world in collaboration with MSD (known as Merck in the USA and Canada) for North America and Seqirus for Australia and New Zealand.
The agreement is expected to have a positive, long-term effect on ALK’s financial results. However, it is not expected to have a material impact on the 2016 financial results.
For further information please contact:
Flemming Pedersen, EVP and CFO, tel. +45 4574 7576
Investor Relations: Per Plotnikof, tel. +45 4574 7527, mobile +45 2261 2525
Media: Jeppe Ilkjær, tel. +45 7877 4532, mobile +45 3050 2014
ALK is a research-driven global pharmaceutical company focusing on allergy prevention, diagnosis and treatment. ALK is a world leader in allergy immunotherapy – a treatment of the underlying cause of allergy. The company has approximately 1,900 employees with subsidiaries, production facilities and distributors worldwide. ALK has entered into partnership agreements with MSD (known as Merck (NYSE: MRK) in the USA and Canada), Torii, Abbott and Seqirus (formerly bioCSL) to commercialise sublingual allergy immunotherapy tablets in North America, Japan, Russia, Australia and New Zealand, respectively. The company is headquartered in Hørsholm, Denmark, and listed on NASDAQ Copenhagen. Find more information at www.alk.net.
About house dust mite allergy and ACARIZAX®
House dust mites (HDM) are the most common cause of allergy in the world. HDM allergy appears early in life and is present all year round. As well as triggering the allergic rhinitis, HDM allergy is also documented to be a major cause of allergic asthma.
The link between allergic rhinitis and asthma is well established and the vast majority of patients who have HDM allergic asthma also have allergic rhinitis. In addition, around 50% of asthmatic patients are reported to be sensitised to HDM.
ACARIZAX® is the first sublingual allergy immunotherapy tablet to be indicated for use in both HDM allergic rhinitis and allergic asthma. In 2015, it received regulatory approval in 11 European countries for use in adult patients (18-65 years) diagnosed by a clinical history and by a positive test of HDM sensitisation with at least one of the following conditions:
Persistent moderate to severe HDM allergic rhinitis despite the use of symptom-relieving medication
HDM allergic asthma which is not well controlled by inhaled corticosteroids and is associated with mild to severe HDM allergic rhinitis. The patients' asthma status must be carefully evaluated before treatment
ALK has initiated work to investigate the safety and efficacy of ACARIZAX® in paediatric patients.
In addition, the product is also being developed for a number of other markets around the world in collaboration with ALK’s partners, MSD (known as Merck in the USA and Canada) for North America, Torii for Japan, Abbott for Russia and South-East Asia, and Seqirus for Australia and New Zealand. These development activities have involved approximately 6,000 patients worldwide and make ACARIZAX® the best documented product in the history of allergy immunotherapy.