4 March 2021 - Deborah Wilkes
Bayer has signed a distribution deal in Egypt, Futura Medical has announced a collaboration in China and South-East Asia, Ipsen has released financial results, and the US Consumer Healthcare Products Association (CHPA) has three new member companies.
Bayer strikes Egyptian deal
Bayer has signed an importation and distribution deal in Egypt with local company Ibnsina Pharma.
Ibnsina said the deal covered Bayer’s OTC portfolio within its Consumer Health division and the company’s prescription medicines within its Pharmaceuticals division.
Quoting data from IQVIA, Ibnsina said Bayer Consumer Health had recorded sales of EGP401 million (USD25.6 million) in Egypt in 2020 and was targeting growth of 30% in 2021.
Futura announces MED3000 collaboration
Futura Medical has announced a collaboration to commercialise its topical erectile-dysfunction product MED3000 in China and South-East Asia.
The UK-based product development company has entered into a licensing agreement with private-equity firm Co-High Investment Management for the rights to exclusively develop and commercialise MED3000 as a non-prescription product.
Co-High will be responsible for all regional MED3000 development and regulatory costs which are estimated to be up to GBP4.0 million (USD5.5 million).
Profits from the joint collaboration will be shared 50:50 between Futura and Co-High.
Futura noted that it was seeking marketing approval for MED3000 in the European Union and US as a non-prescription product, and had plans to file for regulatory approval in other regions.
The company expects an approval for MED3000 in the European Union this year.
Futura Medical has also entered into a financing agreement with part of Atlantis Investment Management for up to GBP2 million. It has already received GBP1.5 million.
Ipsen releases financial results
Ipsen’s Consumer Healthcare business recorded sales of EUR211 million (USD251 million) in 2020, representing a fall of 23.9% compared to 2019. At constant currencies, sales were down by 21.3%.
The gastrointestinal product Smecta was Consumer Healthcare's largest product, but sales were down by 33.0% at constant currencies to EUR80.9 million.
Ipsen said the fall reflected the negative impact of COVID-19, Chinese hospital central procurement policy and a lower performance in France.
Consumer Healthcare’s core operating income was EUR15.6 million, representing 7.4% of sales.
The business accounted for 8.1% of Ipsen’s total sales which were up by 0.6% at constant currencies to EUR2.59 billion.
The French pharmaceutical company announced in December 2020 that the Consumer Healthcare business is “non-core”. A strategic review is ongoing (click here to read the News story).
US CHPA gains three members
The US Consumer Healthcare Products Association (CHPA) has announced three new members – Church & Dwight, Bridges Consumer Healthcare and Rhinomed.
Church & Dwight has stepped up its presence in consumer healthcare through acquisitions over the past few years. At the end of 2020, the US-based consumer products company acquired Matrixx Initiatives and its Zicam cold remedy (click here to read the News story).
Bridges Consumer Healthcare is a new company backed by private-equity firm Charlesbank Capital Partners. It recently acquired the North American rights to ThermaCare HeatWraps and Clarion Brands (click here to read the News story).
Rhinomed is a medical technology company that seeks to improve the way consumers breathe and sleep with nasal and respiratory products including Turbine, Mute and Pronto.