Synthaverse has entered into an agreement with CoraPharm – a pharmaceutical company operating in the Balkans – for the registration, supply and distribution of the Onko BCG medicinal product to Serbia and Bosnia and Herzegovina, the company said. The minimum value of the contract is approx. PLN 19.6 million.
“We have signed another contract with a local leader. This fits in with our strategy of entering more European markets with Onko BCG in cooperation with strong partners operating in these markets. Entering new countries not only gives the opportunity to increase sales, but also increases the diversification of recipients. We are working hard to find new partners with whom we want to expand further abroad,” said Synthaverse CEO Mieczysław Starkowicz, quoted in the release.
Synthaverse has granted CoraPharm a license to use the Onko BCG 50 and 100 registration dossier to obtain registration, as well as the right to sell and distribute in the territory of Serbia and Bosnia and Herzegovina. The total, minimum value of orders in the first 5 years of the agreement is to amount to approximately EUR 4.4 million (approx. PLN 19.6 million according to the exchange rate of the National Bank of Poland on September 4). The license is payable and CoraPharm will pay the license fee in three tranches. The costs of registration and marketing will be borne by the Serbian company. The market launch will take place after registration is obtained, it was also stated.
The company’s Onko BCG products are registered in Poland, Germany, Switzerland, Ukraine and Malta. Synthaverse also sells them to Croatia, Turkey, Uruguay, Lithuania, Greece, Great Britain and Spain.
Synthaverse (formerly Biomed Lublin Wytwórnia Surowic i Szczepionek) is a Polish pharmaceutical company operating since 1944. The company produces medicinal preparations (prescription drugs, medical devices and laboratory reagents used in biochemical and medical laboratories). The company has been listed on the main market of the Warsaw Stock Exchange since 2015; is included in the mWIG40 index.