Pediapharm Inc.

Pediapharm Inc.

March 10, 2015 07:45 ET

RETRANSMISSION: Pediapharm Inc. Acquires United States Rights to Naproxen Suspension

MONTREAL, QUEBEC--(Marketwired - March 10, 2015) -


Pediapharm Inc. ("Pediapharm") (TSX VENTURE:PDP) announced today it has entered into an asset purchase agreement regarding the US rights to Roche's naproxen oral suspension.

Similarly to the Canadian indications, the product is primarily used for juvenile idiopathic arthritis in children 2 years or older due to its more flexible dose titration based on the child's weight. It is estimated that there are over 60,000 children presently living with arthritis in United States. This prescription of oral suspension product is also indicated for the relief of signs and symptoms of other medical pain conditions. Roche will retain the Naprosyn™ trademark and retains all product rights to the other oral dosage forms under this brand.

"This is a very exciting transaction for Pediapharm. As with the Canadian acquisition of naproxen suspension from Roche Canada, we believe there is significant growth potential for this product in the oral liquid NSAID market we estimate to be in the range of $50-80M US (1) in the United States" said Sylvain Chrétien, President and Chief Executive Officer of Pediapharm Inc. "We expect this transaction to rapidly generate revenue as we have already identified potential commercial partners in United States for the re-launch of the product." Mr. Chretien further stated that "it is not the Company's intention to directly commercialize its products in the US at the present time, as we remain focused on our Canadian operations".

"Pediapharm's first acquisition of a product commercialized in the US is a significant accomplishment since it will increase our ability to seek North American product rights in future transactions", said Benoît Hébert, Pediapharm's Vice President of Business Development and Licensing. "The eventual partnering of this product for the US commercialization rights will allow us to leverage our expertise in pediatrics and possibly accelerate our corporate development strategy".

Pediapharm intends to make the Pediapharm Naproxen Suspension available again in United States before the end of 2016.

(1) Market value is a management estimate based on publicly available industry data from various sources.

About Pediapharm Inc.

Pediapharm is the only Canadian specialty pharmaceutical company dedicated to serving the needs of the pediatric community. Its mission is to bring to the Canadian market the latest innovative pediatric products with the objective to improve the health and the well-being of children in Canada. Since its debut in 2008, Pediapharm has entered into numerous commercial agreements with partners from Canada and other countries around the world.


This news release contains forward-looking statements and other statements that are not historical. Such forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from target results and the results or events predicted in these forward-looking statements. As a result, investors are cautioned not to place undue reliance on these forward-looking statements.

The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking information reflects the current expectations or belief of the Corporation based on information currently available and such information is subject to a number of assumptions, risks and uncertainties described in details at pp. 35 to 41 of the Management Information Circular of Chelsea Acquisition Corporation dated November 12, 2013 available on SEDAR at and other risks associated with being a specialty pharmaceutical company.

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