Orbus Pharma Inc.
TSX : ORB

Orbus Pharma Inc.

September 27, 2005 17:32 ET

Orbus Signs Cefuroxime Axetil Licensing and Supply Agreement

TORONTO, ONTARIO--(CCNMatthews - Sept. 27, 2005) - Orbus Pharma Inc. (TSX:ORB) ("Orbus") today announced the signing of a license and supply agreement with Generics UK Limited ("GENERICS") (www.generics.uk.com).

Under terms of the license agreement, GENERICS will distribute the product in Spain, Italy and Belgium and pay Orbus a license fee of 175,000 Euros payable in milestone payments up to registration completion which is expected sometime in the next six months. Retail annual sales of cefuroxime axetil in Spain, Italy and Belgium are approximately 60 million Euros. Orbus will manufacture the product in its Cambridge plant and supply GENERICS with bulk blisters. Orbus is awaiting regulatory approval in Europe and marketing is expected to begin in the first quarter of 2006.

Cefuroxime axetil is an antibiotic used to treat certain infections such as bronchitis, infections of the ears, throat, sinuses, urinary tract and skin.

Generics UK Limited is part of the larger Merck Generics Group which comprises some fifteen companies.

Orbus, headquartered in Markham, Ontario, pursues a strategy of generating revenue through the manufacture of off-patent pharmaceuticals, capitalizing on its ability to support the development and commercialization of a range of products at affordable costs.

Contact Information

  • Orbus Pharma Inc.
    Jeffrey W. Renwick
    President & CEO
    (905) 943-9444 Ext. 227