BioSyent signs distribution pact for two CV products
BioSyent (TSX-V:RX; OTC:BIOYF) has signed an exclusive distribution agreement with a European partner for two new products in the cardiovascular therapeutic area for the Canadian market.
The products have been approved in Europe and in certain other markets around the world and will be launched in Canada if approval is granted by Health Canada. BioSyent intends to submit the dossier seeking marketing approval of the products to Health Canada in 2016.
Based on current and forecast market data, as well as assumptions regarding estimated volume, penetration and pricing, BioSyent forecasts that the two new products will add approximately $20-million to the overall revenue of the company when they reach peak sales.
BioSyent continues to concentrate on its pharmaceutical strategy to source products that have been successfully developed and proved to be safe and effective; manage these products through the regulatory process and product registration; and, once approved, market these products in Canada and in certain international markets.