Watson, Moksha8 Form Marketing Partnership for Brazil, Mexico;
Morristown, NJ, and Sao Paulo, Brazil, October 4, 2010 – Watson Pharmaceuticals, Inc. (NYSE: WPI) and Moksha8, based in Sao Paulo, Brazil, today announced that they have entered into an agreement that will expand Watson’s commercial presence in Latin America’s two largest markets, Brazil and Mexico.
“This unique partnership further demonstrates our commitment to expand our global footprint through creative business solutions that maximize the commercial opportunities for our current portfolio of brands and branded generics, establish the foundation for future growth in high value and expanding markets, and creates immediate value for both partners,” said Paul Bisaro, Watson’s President and Chief Executive Officer.
“The management team of Moksha8, led by Simba Gill, has a proven track record of effectively commercializing products within the brand and branded generic markets of Mexico and Brazil. This agreement, which provides Watson with an initial equity position, enables us to help fund Moksha8’s expansion and to share in their continued success. The partnership complements Watson’s existing commercial operations in Brazil, while establishing an expanded longer-term strategy to grow our presence in Brazil, establish our presence in Mexico and develop a pan- Latin American growth strategy,” Bisaro continued.
“The addition of Watson to our current business expands our existing portfolio and pipeline of high quality products for the Latin America market,”” said Simba Gill, Chief Executive Officer of Moksha8. “Further, this partnership marks moksha8’s entry into the rapidly growing branded generics market and immediately strengthens our position as a leader in the treatment of CNS disorders including depression, anxiety and schizophrenia.”
Watson will manufacture and supply select products to Moksha8, which will have exclusive rights to market, sell and distribute these products in Brazil and Mexico. Moksha8 and Watson have initially identified approximately one dozen product candidates, with the opportunity to expand the commercialization and marketing agreement to include additional products in the future.
Watson will continue to own all marketing authorizations, and Moksha8 will be responsible for sales, marketing and commercialization expenses.
Moksha8 currently markets 21 branded products for third parties in Latin America, utilizing a field force of approximately 180 sales representatives in the areas of CNS, infectious disease and pain. Combined, Brazil and Mexico make up 75% of the $40 billion USD Pharmaceutical market in Latin America. Moksha8 is the high quality partner of choice for pharmaceutical and biotechnology companies seeking to capture value in Latin America.
Watson currently manufactures and markets select generic products in the Brazilian marketplace through a Brazilian subsidiary. This venture will have no impact on that subsidiary’s current operations, including current management, manufacturing and supply chain; Moksha8 will complement Watson’s Brazilian sales and marketing capabilities.
Moksha8 is a leading pharmaceutical company in Latin America. The company is partnered with Roche, Pfizer, BioCryst and Watson in Brazil and Mexico. Moksha8 was founded in 2007 by Simba Gill and TPG Biotechnology. Major investors include TPG Biotechnology and Montreux Equity Partners. For additional information on Moksha8, please visit the company’s Web site at www.moksha8.com.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a leading global specialty pharmaceutical company. The company is engaged in the development and distribution of generic pharmaceuticals and specialized branded pharmaceutical products focused on Urology and Women’s Health. Watson has operations in many of the world’s established and growing international markets.
For press releases and other company information, please visit Watson Pharmaceuticals’ Web site at www.watson.com
Statements contained in this press release that refer to non-historical facts are forward-looking statements that reflect Watson’s and Moksha8’s current perspective of existing information as of the date of this release. It is important to note that Watson’s and Moksha8’s goals and expectations are not predictions of actual performance. Actual results may differ materially from Watson’s and Moksha8’s current expectations depending upon a number of factors affecting Watson’s and Moksha8’s business. These factors include, among others, the impact of competitive products and pricing; the timing and success of product launches; difficulties or delays in manufacturing; the availability and pricing of third party sourced products and materials; successful compliance with FDA and other governmental regulations applicable to Watson and Moksha8, their subsidiaries, and their third party manufacturers’ facilities, products and/or businesses; changes in the laws and regulations, including Medicare and Medicaid and similar laws in non-U.S. jurisdictions, including Brazil and Mexico, affecting, among other things, pricing and reimbursement of pharmaceutical products; and other risks and uncertainties detailed in Watson’s periodic public filings with the Securities and Exchange Commission, including but not limited to Watson’s annual report on Form 10-K for the year ended December 31, 2009 and Watson’s quarterly report on Form 10-Q for the period ended June 30, 2010. Except as expressly required by law, Watson and Moksha8 disclaim any intent or obligation to update these forward-looking statements.
moksha8 and BioCryst Gain Approval for the Importation and Use of Peramivir in Mexico for the Treatment of H1N1 Influenza
– moksha8 also announces $25M financing led by Montreux Equity Partners –
MEXICO CITY and BIRMINGHAM, Ala., Jan. 12 /PRNewswire-FirstCall/ — moksha8 and BioCryst today announced that moksha8 has been granted approval from COFEPRIS (The Federal Commission for the Protection against Sanitary Risk) in Mexico for the importation and use of peramivir in patients with influenza associated with the 2009 H1N1 influenza A strain. moksha8 has also filed for regulatory approval of peramivir in Brazil. Peramivir is the only intravenous (i.v.) antiviral that is currently available under an Emergency Use Authorization in the U.S. in certain adult and pediatric patients with confirmed or suspected 2009 H1N1 influenza A infection who are admitted to a hospital.
“Rapidly bringing important novel products to patients in need in Mexico and Brazil is core to our vision,” said Ayse Kocak, Head of moksha8 in Mexico. “The rapid approval of peramivir for importation and use is a strong validation of the Mexican Government’s commitment to public health. We look forward to bringing this potentially life saving drug to as many patients as possible.”
“We are pleased that the Mexican government has authorized the use of peramivir to treat its citizens who are infected with 2009 H1N1 influenza A,” said Jon P. Stonehouse, President and Chief Executive Officer of BioCryst Pharmaceuticals. “The relationship between BioCryst and moksha8, established only three months ago, is producing the near-term results we desired. We are prepared to respond to any peramivir order we may receive under this authorization from Mexico.”
“Peramivir is an important part of our influenza preparedness program,” said Miguel Angel Toscana, Federal Commissioner of COFEPRIS (Mexico’s Federal Commission for the Protection against Sanitary Risk). “Approval of peramivir importation will help our mission of protecting our nation.”
The 2009 H1N1 influenza A virus is a new influenza virus and one to which most people have no or little immunity and, therefore, this virus could cause more infections than are seen with seasonal flu. The severity of the disease ranges from very mild symptoms to severe illnesses that can result in death.
In September 2009, moksha8 signed a binding letter of intent to exclusively represent BioCryst and its anti-viral peramivir for influenza stockpiling opportunities, as well as for marketing and distribution of peramivir for seasonal influenza upon local regulatory approval, in certain Latin American countries, including Brazil and Mexico.
moksha8 also announced that it has raised $25 million in a Series C financing led by Montreux Equity Partners. Existing investor TPG Biotechnology and CEO, Simba Gill, also participated in the financing.
moksha8 has established broad commercial operations in Mexico and Brazil, the two largest pharmaceutical markets in Latin America. Together they represent 75% of a $30 billion market in Latin America. The Company is currently commercializing approximately $200 million of products in the infections disease, central nervous system and inflammation therapeutic areas under partnerships with Roche and Pfizer. Products in the Company’s portfolio include key brands such as Rocephin®, Bactrim®, Lexotan®, Rivotril® as well as UnaSyn® and Vibramycin®.
Peramivir is an anti-viral agent that inhibits the interactions of influenza neuraminidase, an enzyme which is critical to the spread of influenza within a host. In laboratory tests, peramivir has shown activity against pandemic H1N1 swine flu origin viral strains. Peramivir has been studied in over 1800 patients with complicated and uncomplicated influenza. In November 2009, Shionogi & Co., Ltd. filed for regulatory approval in Japan.
moksha8 was founded in December 2006 by Simba Gill and TPG Biotechnology, and has raised significant financing from top-tier private equity and venture capital firms, including TPG Biotechnology, Montreux Equity Partners and Votorantim Novos Negocios, the venture capital and private equity arm of Votorantim, one of Brazil’s largest privately held conglomerates. moksha8 is uniquely positioned as the partner of choice for both pharmaceutical and biotechnology companies seeking to capture value from their products in high growth emerging markets. moksha8 has established commercial operations in key geographies in Latin America including Sao Paulo and Mexico City. moksha8 provides the highest quality medicines to the fastest growing markets of the world.
BioCryst Pharmaceuticals designs, optimizes and develops novel small-molecule pharmaceuticals that block key enzymes involved in infectious diseases, cancer and inflammatory diseases. BioCryst has progressed two novel compounds into late-stage pivotal clinical trials; peramivir, an anti-viral for influenza, and forodesine, a purine nucleoside phosphorylase (PNP) inhibitor for cutaneous T-cell lymphoma (CTCL). Utilizing crystallography and structure-based drug design, BioCryst continues to discover additional compounds and to progress others through pre-clinical and early development to address the unmet medical needs of patients and physicians. For more information, please visit the Company’s Web site at www.biocryst.com.