EQS-News PAION AG enters partnership with Viatris and expands sales activities in Europe
EQS-News: PAION AG / Key word(s): Expansion
PAION AG enters partnership with Viatris and expands sales activities in Europe
- Viatris, leveraging its Global Healthcare Gateway in partnership with Paion shall distribute the products Remimazolam, Eravacycline and Angiotensin II in a total of 7 European target markets
- Focus remains on expansion of commercial sales in Europe
Aachen, Germany, 16 November 2022 - PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard: PA8), a specialty pharmaceutical company with innovative compounds for use in outpatient and hospital sedation, anaesthesia and intensive care, has entered into a long-term collaboration with Mylan Ireland Limited, a subsidiary of the Viatris Group, for the distribution in both Southern Europe and other European countries which are not currently served by PAION or its other distribution partner Medis. Under this distribution agreement Viatris will take care of the launch, promotion and commercial distribution of the three products remimazolam (Byfavo), eravacycline (XERAVA) and angiotensin II (GIAPREZA) in Belgium, Poland, France and Romania as well as in the Southern European countries Italy, Spain and Greece.
Under the terms of the collaboration agreement, on the one hand, PAION will receive a upfront payment. In addition, Viatris will purchase supply of the products from PAION and also share with them the profits from product sales.
Commenting on the sales activities, Dr. Jim Phillips, CEO of PAION AG, said: "We are very pleased to have entered into a long-term partnership with leading global healthcare company Viatris to provide access to medicines for patients in Europe. This is an important milestone for PAION to drive forward its sales activities in Europe in a targeted manner. Both companies see growth potential for our products across the European continent. This transaction also allows us to focus on driving sales and profitability in our core markets while partnering with a top 20 global company in Paion’s non-core EU markets. As a further important milestone we continue to expect the EMA's decision on the extension application for the marketing authorisation for Remimazolam for general anaesthesia in the first quarter of 2023."