Corporate News

 

• SANOCHEMIA concludes exclusive distribution agreement for radiological products in Spain, Portugal and Latin America
• Dynamic sales activities with Iberoinvesa already initiated

 

Vienna, 30 June 2010 – Sanochemia Pharmazeutika AG, Vienna, has concluded an exclusive distribution agreement with Iberoinvesa Pharma SL, Madrid, covering Spain, Portugal and Latin America. By means of this agreement and the launch in Spain, Sanochemia not only paves the way for the fast-track development of markets for its entire radiological product portfolio in Spain and Portugal but also for rapid access to selected markets in Latin America such as Columbia, Mexico and the Dominican Republic.  

 

Iberoinvesa Pharma SL is a young Spanish drugs company which has specialised exclusively in the distribution of radiological products (x-ray, CT and MRT imaging agents).  The company was founded by leading individuals from the field of radiology who have the necessary expertise and local market knowledge but who, as a result of mergers involving their previous companies, lacked both distribution licenses and products. As a competent partner, Sanochemia is now providing ready-to-market products while Iberoinvesa, for its part, is making available top personnel with many years of experience in the areas of regulatory affairs and sales in the territories covered by the agreement in what appears to be an optimal synergy.

 

Launches in Spain and Latin America

The successful launch of Secrelux^®, Sanochemia’s pancreas diagnostic, has demonstrated the high degree of acceptance enjoyed by high quality, safe and cost-effective products. Further product launches involving the speciality imaging agents Scanlux^® and Magnetolux^® are planned for October / November 2010. Spain is a major and attractive market in Europe with a population approaching 50 million. The current market potential for radiological products in Spain lies between around 60 and 70 million euro, albeit with differing growth rates in the various segments. In the mid term, Sanochemia forecasts a market share of 5 – 10%.

 

Furthermore, Spain acts as the “door to South America” – a springboard for planned expansion into Latin America. Given that the emerging markets of Latin America are expected to experience sharp rises in demand in terms of their healthcare systems and are countries in which medical care is a rising priority, this region of the world promises to be an attractive sales area for Sanochemia. 

 

“We are very motivated by the launch in Spain and the above-average growth in terms of market potential in these emerging markets”, says Werner Frantsits, CEO and CFO of Sanochemia, “this is driving us to intensify our efforts to develop these markets. Our plan of securing the first sales of products in South America via Spain as early as this calendar year appears absolutely realistic and the signs are that rapid progress is already being made in terms of preparing the market.”

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For further information please contact:

Margarita Hoch

Investor Relations 
Tel. : +43 / 1 / 3191456 / 335
Fax:  +43 / 1 / 3191456/ 344
m.hoch(at)sanochemia.at