Insmed and Tzamal Pharma Announce Agreement for the Promotion and Distribution of SomatoKine in Middle Eastern Territories; Tzam
21 Octobre 2004 - 11:01PM
PR Newswire (US)
Insmed and Tzamal Pharma Announce Agreement for the Promotion and
Distribution of SomatoKine in Middle Eastern Territories; Tzamal to
Immediately Expand SomatoKine Named Patient Program RICHMOND, Va.
and PETAH TIKVA, Israel, Oct. 21 /PRNewswire-FirstCall/ -- Insmed
Incorporated (NASDAQ:INSM) and Fox Pharma announced today that
Tzamal Pharma, a leading pharmaceutical sales and marketing
company, will be granted exclusive marketing rights to Insmed's
IGF-I replacement therapy, SomatoKine(R) for certain Middle Eastern
territories to include Israel. Insmed also granted Tzamal exclusive
rights to expand Insmed's named patient program for SomatoKine(R)
in these Middle Eastern territories. Eddy Steinberg, Managing
Director of Tzamal Pharma stated, "We are very excited that Insmed
has selected Tzamal as the exclusive distributor of SomatoKine(R)
here in the Middle East. Tzamal has a history of working with the
world's leading companies and we are very happy to continue this
history by partnering with Insmed. The numerous diseases where
IGF-1 replacement therapy is necessary represent a broad
opportunity for Tzamal to positively impact the lives of many
patients." Mr. Steinberg continued, "The data demonstrating the
safety and efficacy of SomatoKine in children with Growth Hormone
Insensitivity Syndrome (GHIS) gives us confidence that SomatoKine
will be approved by the regulatory authorities. We intend to
immediately begin the appropriate registration and reimbursement
efforts so that the children with GHIS can quickly receive this
valuable medicine." Mr. Steinberg concluded with a comment on the
target market in the territory, "It is estimated that there are
more than nine thousand patients in Israel that may benefit from
SomatoKine therapy -- and much more in other territories. Tzamal's
initial focus will be to establish the GHIS and Severe Insulin
Resistance markets and then expand treatment into the other markets
where there is serious unmet medical need." Insmed's Chief Business
Officer Philip Young stated, "This agreement with Tzamal is another
step in our strategy to partner with experienced and successful
sales and marketing organizations for the global expansion of our
SomatoKine(R) franchise. The Tzamal team is a highly respected
innovator and leader in the licensed pharmaceutical markets. I
fully anticipate that Tzamal will successfully take on the
responsibility of launching SomatoKine, and I am confident they
will help us achieve our near and long term goals. I look forward
to a long and prosperous partnership." About Tzamal Pharma Tzamal
Pharma is a privately owned sales and marketing organization for
Middle Eastern territories. Tzamal is committed to providing
hospitals and healthcare funds with high quality pharmaceuticals
for defined therapeutic fields such as cancer, infertility and
metabolic diseases. For more information, please visit
http://www.tzamal-medical.co.il/. About Insmed Insmed is a
biopharmaceutical company focused on the discovery and development
of drug candidates for the treatment of metabolic diseases and
endocrine disorders with unmet medical needs. For more information,
please visit http://www.insmed.com/. Statements included within
this press release, which are not historical in nature, may
constitute forward-looking statements for purposes of the safe
harbor provided by the Private Securities Litigation Reform Act of
1995. Forward-looking statements in this press release include, but
are not limited to, statements regarding clinical trials and goals,
our regulatory and business strategies and growth opportunities for
existing or proposed products. Such forward-looking statements are
subject to numerous risks and uncertainties, including risks that
product candidates may fail in the clinic or may not be
successfully marketed or manufactured, the company may lack
financial resources to complete development of product candidates,
the FDA may interpret the results of our studies differently than
we have, competing products may be more successful, demand for new
pharmaceutical products may decrease, the biopharmaceutical
industry may experience negative market trends and other risks
detailed from time to time in the company's filings with the
Securities and Exchange Commission. As a result of these and other
risks and uncertainties, actual results may differ materially from
those described in this press release. For further information with
respect to factors that could cause actual results to differ from
expectations, reference is made to reports filed by the Company
with the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended. The forward-looking statements
made in this release are made only as of the date hereof and Insmed
disclaims any intention or responsibility for updating predictions
or financial guidance contained in this release. CONTACT: Baxter
Phillips, III, Investor Relations, of Insmed Incorporated,
+1-804-565-3041, Fax: +1-804-565-3510, or . DATASOURCE: Insmed
Incorporated CONTACT: Baxter Phillips, III, Investor Relations, of
Insmed Incorporated, +1-804-565-3041, Fax: +1-804-565-3510, or Web
site: http://www.insmed.com/ http://www.tzamal-medical.co.il/
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