Swedish pharmaceutical company, Oasmia Pharmaceutical, has entered into a new exclusive marketing and distributions agreement with Hetero Group with the goal of driving revenue in Russia and other CIS markets.
An international pharmaceutical company with 15,000 employees in over 120 countries, Hetero is recognized for its strengths in research, development, manufacturing and commercialization of a wide range of products.
Under the agreement, Hetero will be responsible for the marketing and distribution of Paclical in Russia and several other markets spanning CIS markets, including Ukraine and Kazakhstan. The relationship is a significant one for Oasmia, as Hetero possesses a large distribution and sales operation in the region and will be investing its own resources into the marketing of Paclical and future Oasmia products Doxophos and Docecal, for which they have an option to distribute. The terms in the agreement are similar to the previous agreement for the region.
Oasmia and Hetero Group have also signed a letter of intent regarding India and South America, which will be negotiated separately.
“We welcome Oasmia and their diverse suite of oncology products to our platform,” said Dr. Bandi Parthasaradhi Reddy, Chairman and Managing Director at Hetero Group. “Our review of the product indicates it is well suited in many of the regions where we possess a strong marketing and distribution presence. We are confident in our ability to drive adoption of Paclical, supplying an important treatment to physicians and patients, as well as revenue to both companies.”
“We are pleased to enter into this partnership with Hetero, an organization with an expansive distribution and industry relationships that we believe will support the growth, and ultimately revenue, of Oasmia products,” said Julian Aleksov, Executive Chairman at Oasmia Pharmaceutical. “It is important to note that this agreement retains the favourable conditions for both parties that Oasmia has held in the past with its previous partner. We believe the structure of this relationship, coupled with the globally recognized capabilities of Hetero, positions Oasmia for the growth we expect of our products.”