Beijing Med-Pharm Corporation and Shanghai Novartis Trading Limited, a wholly owned subsidiary of Novartis AG, have announced an exclusive agreement to register, market and distribute Enablex (Darifenacin) in China.
"We are delighted to partner with Novartis, a global pharmaceutical giant, to bring the Enablex to China," states David Gao, Chief Executive Officer of Beijing Med-Pharm. "We believe this is one step in a successful, long-term relationship with Novartis."
Enablex is a prescription medicine used in adults to treat symptoms of urinary incontinence, urgency and urinary frequency related to an Overactive Bladder (OAB). Global annual sales of OAB medication are estimated to be $2.25 billion. In China, OAB afflicts an estimated 24-29% of the population over the age of 24, or over 200 million people, and treatment rates are historically low, with less than 15% of OAB sufferers seeking treatment.
Gao continued, “The potential sales opportunity for Enablex is extremely compelling in China. There are currently few medications available to combat OAB and, concurrently, millions of Chinese have not yet accessed treatment. While we are seeking SFDA approval, we plan to educate doctors and patients on OAB."
Under the terms of the agreement, Beijing Med-Pharm is responsible for attaining SFDA approval of Enablex, a process that is expected to last through 2010. Once approved, Beijing Med-Pharm will have the exclusive rights to sell, market and distribute Enablex in China for ten years.