Alvogen and Covis Pharma have entered into an exclusive partnership and distribution agreement for the commercialization of Alvesco® (ciclesonide), a leading medicine for the treatment of persistent asthma. The long-term partnership arrangement includes the rights to market the product in Bulgaria, Czech Republic, Hungary, Kazakhstan, Latvia, Poland, Romania, Russia and Slovakia.
Whilst terms of the transaction are not being disclosed, Alvogen will assume responsibility for sales, promotion and marketing. Alvesco® will compliment and further accelerate growth for Alvogen’s respiratory business in the region.
Hacho Hatchikian, Executive Vice President of Alvogen CEE, commented: “We are excited by the market opportunity that Alvesco® has to offer and we look forward to expanding our respiratory portfolio in the CEE region and provide patients and physicians with high-quality treatments. With a sales and marketing network covering more than 20 CEE markets and 450 sales representatives, we are well positioned to continue to grow our respiratory business in the region.”
Steen Vangsgaard, General Manager Covis Pharma Europe & ROW, commented: “We are thrilled to partner with Alvogen for the commercialization and distribution of Alvesco® in CEE. Alvogen’s ambition within respiratory in combination with their dedication to quality treatments and relentless business execution is a great match with Covis’ ambition and ethos. Together we will do a wonderful job securing patients access to Alvesco®.”
Alvesco® (ciclesonide) is an inhaled anti-inflammatory maintenance therapy delivered by a metered-dose inhaler to help control persistent asthma. The active ingredient in the product is ciclesonide, a synthetic corticosteroid that reduces inflammation.