Biolab to test new hypertension drug
Company signs agreement with Quantum Genomics for research, production and commercialization of new drug in Latin America
Biolab has signed an agreement with French company Quantum Genomics to develop, produce and market a new drug for hypertension in Latin America. According to the president of the Brazilian pharmaceutical company, Cleiton Castro Marques, the contract provides for the coordination of clinical studies of the drug, which is part of a new therapeutic class in the treatment of hypertension in the country.
"We're going to carry out Phase 3 research in 2020 and 2021, in Brazil and Mexico. This is the first time that a Brazilian pharmaceutical company has participated in the development of a totally new drug in the world. We hope to complete the studies in 2021 so that in 2022 we can apply for registration with Anvisa [the National Health Surveillance Agency]," said Castro Marques.
For this contract, the executive said that US$ 22 million will be invested over the next three years. "We have been negotiating this contract for a year and under the agreement we will have exclusive marketing rights in Latin America. We are strong in drugs for the cardiovascular system in the country and with this drug we will be able to greatly increase our business."
According to him, Biolab will also be responsible for producing the new drug. At first for the region, but negotiations are underway to produce it for other countries outside Latin America. "We have the manufacturing structure to open a new product line. The factory under construction in the city of Pouso Alegre (MG) was designed with this new medicine in mind. This unit will be prepared to send medicines to the United States and Europe", said the executive.
In a statement to the market, Quantum said that the strategy of regionalizing clinical studies, production and marketing proved to be more efficient in generating value for the company. "In this way, it will be possible to guarantee the clinical development of our drug, relying on laboratories for which the placing on the market of a new treatment for arterial hypertension is strategic," said the pharmaceutical company's general manager, Jean-Philippe Milon.
Biolab has more than 50% of its sales in the Brazilian market in drugs aimed at treating heart disease. The pharmaceutical company has a portfolio of around 140 products in Brazil. This year, gross revenue is expected to be around R$ 2.1 billion, while net revenue, that calculated from discounted sales to the market, is expected to reach R$ 1.6 billion. "Today, we have a leading position in this class of drugs and this was one of the factors in closing this deal."