Orbus Pharma Inc.

Orbus Pharma Inc.

November 08, 2006 16:31 ET

Orbus Signs Exclusive License, Supply and Distribution Agreement for the Canadian Market

TORONTO, ONTARIO--(CCNMatthews - Nov. 8, 2006) - Orbus Pharma Inc. (TSX:ORB) ("Orbus") today announced that it has entered into an exclusive license, supply and distribution agreement with Gennium Pharma Inc. ("Gennium") of Mississauga, Ontario, to supply a generic cephalosporin to the Canadian market.

Orbus' product is a fast release formulation which is the subject of a patent application pending in the Canadian Intellectual Property Office, as well as in the European Patent Office. The total Canadian market sales in 2005, is approximately $10.5million.

Under the agreement, Orbus will manufacture the product at its Cambridge, Ontario plant and Gennium will file an Abbreviated New Drug Submission (ANDS) with Health Canada and will market and distribute the generic drug product under the Gennium name in the Canadian market. Financial terms of the Agreement were not disclosed.

"We are pleased with this new collaboration" said Jeff Renwick, President and CEO of Orbus. "We believe this ten year supply agreement is the start of a long-term relationship with an important partner."

Gennium is a privately owned Canadian generic pharmaceutical company that focuses on sales, marketing and distribution.

Orbus Pharma Inc., is listed on The Toronto Stock Exchange under the symbol ORB and pursues a strategy of generating revenue through the licensing of its generic drug developments as well as the manufacturing and selling of pharmaceutical products.

Contact Information

  • Orbus Pharma Inc.
    Jeffrey W. Renwick
    President and Chief Executive Officer
    (905) 943-9444