Concordia Healthcare Corp. announces Exclusive Distribution Agreement for Ulesfia® with Lachlan Pharma Holdings
TORONTO, Jan. 6, 2014 /PRNewswire/ - Concordia Healthcare Corp. ("Concordia"), an integrated, specialty healthcare company focused on the acquisition of legacy pharmaceutical products, the acquisition and development of orphan drugs, and distribution of medical devices servicing the diabetic population announced today that it has entered into an Exclusive Distribution Agreement with Lachlan Pharma Holdings ("Lachlan"), a global pharmaceutical company, with a term of five years for the exclusive distribution of Ulesfia® (benzyl alcohol) Lotion in the United States. Lachlan has an agreement with Zylera Pharmaceuticals, LLC ("Zylera") to commercialize Ulesfia® Lotion in the United States.
"The Exclusive Distribution Agreement for Ulesfia® Lotion with Lachlan provides Concordia access to Zylera's seasoned sales force as well as their wholesale and retail network," said Mark Thompson, chief executive officer of Concordia. "We believe that Zylera is an excellent partner which will help grow the existing sales of Ulesfia® Lotion across the United States." Ulesfia® Lotion is a prescription non-pesticide Head Lice Treatment currently sold in the United States.
Concordia is a diverse healthcare company focused on legacy pharmaceutical products, orphan drugs and medical devices for the diabetic population.
The company's legacy pharmaceutical business consists of an ADHD-treatment drug, Kapvay® (clonidine extended release tablets), Ulesfia® (benzyl alcohol) Lotion a Head Lice Treatment, and an Asthma-related medication, Orapred ODT® (prednisolone sodium phosphate orally disintegrating tablets). Concordia's Specialty Healthcare Distribution (SHD) division (Complete Medical Homecare) distributes medical supplies targeting diabetes and related conditions. Concordia's orphan drug division, Pinnacle Biologics Inc., markets Photofrin® in the United States.
Concordia operates out of facilities in Oakville, Ontario, Lenexa, Kansas (near Kansas City, Missouri), Chicago, Illinois and Bridgetown, Barbados.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding Concordia and its business. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of Concordia's management. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the pharmaceutical industry, the ability to expand the existing sales of Concordia's products, including Ulesfia® Lotion, in the United States and other geographic regions, as applicable, the receipt of approval to market Concordia's products in certain markets, the ability to locate partners to promote and grow the existing sales of Concordia's products, including Ulesfia® Lotion, the further development of Concordia's products, the growth of Concordia, failure to obtain regulatory approvals, economic factors, the equity markets generally and many other factors beyond the control of Concordia. Although Concordia has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Concordia undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Concordia Healthcare Corp.