Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has teamed up with Britain's Sinclair IS Pharma plc (AIM: SPH) to market Sinclair's oncology care product in five European countries, beginning in the fourth quarter.
Teva will have exclusive marketing rights to episil, an oncology supportive care product, in Germany, Spain, Poland, Switzerland and the Czech Republic. Sinclair has an option to jointly market the product in Germany and Spain where it has its own direct sales force.
Episil is a patented oral spray for local treatment of pain associated with oral mucositis, a serious side effect of chemotherapy and radiotherapy during cancer treatment.
Sinclair CEO Chris Spooner said, "A key part of the rationale behind the merger with IS Pharma was to broaden the sales reach of the IS portfolio through Sinclair's direct country and regional operations. This is the first in what we expect to be a number of marketing and co-marketing partnerships. episil is a cornerstone of our supportive oncology portfolio and we look forward to working with Teva as we drive sales of this product."
Teva's share price fell 0.2% on Nasdaq yesterday to $40.53, giving a market cap of $36.1 billion, but rose 1.4% to NIS 145.80 by mid-afternoon on the TASE today. Sinclair's share price rose 11% on London’s Alternative Investment Market (AIM) to ₤2.78, giving a market cap of ₤110 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 31, 2011
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