Jubilant Organosys Ltd, headquartered in India, announced today that its subsidiary Draximage Ltd has signed an agreement with France based Guerbet for the distribution of its nuclear medicine products in Europe.
Draximage specializes in radiopharmaceuticals business and Guerbet is a leading medical imaging player in Europe. The partnership agreement will provide a springboard to Draximage to extend the reach of its nuclear medicine products in the European markets including Germany, France, UK, Italy and Spain.
With this partnership Guerbet will become the exclusive distributor for the sale of Draximage range of products including, Sestamibi*, I-131*, MDP* DTPA* and MAA*, through its network of European subsidiaries.
This will facilitate easy availability of these nuclear medicines which are much in demand by the medical professionals in the imaging market due to the rapid development of hybrid technologies (nuclear medicine and MRI, nuclear medicine and scanners).
Commenting on the development, Shyam S. Bhartia, Chairman & Managing Director and Hari S. Bhartia, Co-Chairman & Managing Director of Jubilant Organosys Ltd. said, “This is in line with our strategy to expand our specialty pharmaceuticals business in the regulated markets. The partnership with a strong player in Europe demonstrates our commitment to enter into the attractive, regulated, high growth and high margin radiopharmaceutical business, and will enable us to gain rapid market share.”
“This partnership provides an excellent opportunity for growth in Europe. Guerbet's expertise, commercial energy and strong penetration in the x-ray and MRI segments will provide Draximage an opportunity to accelerate its development in these new European markets” expressed Jean-Pierre Robert, CEO, Draximage Business.
With this agreement, Guerbet strengthens its offering by expanding into nuclear medicine, a technology for diagnostic and therapeutic imaging that offers a highly complementary fit with the x-ray and MRI lines.
"This constitutes a first step for Guerbet in the field of nuclear medicine. Nuclear medicine is a high utility technology providing complementary capabilities for the diagnosis and staging of cancers. It offers considerable benefits for monitoring cardiovascular and metabolic illnesses. Given its experience in nuclear medicine, excellent reputation and pipeline, Draximage represents an ideal partner for Guerbet. This partnership will provide a promising growth driver for our continued development in the years ahead.” commented Philippe Decazes, Chairman of the Executive Committee of Guerbet.
Nuclear medicine is a medical specialty that studies the functioning of organs through the use of radioactive agents for diagnostic purposes. It is particularly well adapted for the diagnosis of cancers and cardiovascular illnesses.
This agreement will enable Draximage, a Jubilant Organosys company, to develop the geographical coverage of its products by partnering with a major European imaging specialist with key positions in the x-ray segment and the European leader for MRI with Dotarem®.
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Notes to the Editors:
DRAXIMAGE PRODUCT RANGE
* Sestamibi* ( for myocardial perfusion)
I-131*(for hyperthrodism & thyroid cancer)
MDP* (for bone)
DTPA* (for pulmonary ventilation & kidney)
MAA* (for pulmonary perfusion)
About Jubilant
Jubilant Organosys Ltd. is an integrated pharmaceutical industry player, one of the largest custom research and manufacturing services (CRAMS) and drug discovery and development services companies out of India. The company has a presence across the pharmaceutical value chain for products and services such as proprietary products ,exclusive synthesis, active pharmaceutical ingredients, contract manufacturing of sterile injectables (liquids and lyophilized) products, non-steriles (ointments, creams and liquid) and radiopharmaceuticals, drug discovery services, medicinal chemistry services, clinical research services ,generic dosage forms and Healthcare. Jubilant Organosys has geographically diversified manufacturing facilities at ten locations worldwide. Together, these help Jubilant cater to 150 customers across more than 50 countries around the world.
For more information: visit www.jubl.com
About Draximage
DRAXIMAGE Ltd is a Jubilant Organosys Company that develops, manufactures and markets diagnostic and therapeutic radiopharmaceuticals for the global nuclear medicine marketplace.
Products include a proprietary line of lyophilized Technetium-99m kits (MAA, MDP, DTPA and Sestamibi) used in several medical imaging procedures. DRAXIMAGE is also a leading supplier of I-131 radiopharmaceuticals in North America, used for the diagnosis and treatment of thyroid disorder and cancer. Products in development comprises “next generation” Rubidium-82 and Technetium-99m generators.
DRAXIMAGE products are exported worldwide, with regulatory approval in USA, Canada, parts of Europe and South-East Asia.
For more information: visit www.draximage.com
About Guerbet
Guerbet (www.guerbet.com) is the only pharmaceutical group fully dedicated to medical imaging. It has the most comprehensive range of x-ray and MRI contrast media available worldwide. These products assist medical professionals (radiologists, cardiologists, oncologists, etc.) in better diagnosing and treating their patients (cardiovascular, cancer, inflammatory and degenerative diseases).
To develop new products and assure its future growth, every year Guerbet devotes significant resources to research and development with 170 R&D employees representing an amount equivalent to approximately 10% of sales. Guerbet's research programmes are focused on MRI and nuclear medicine.
Guerbet is solidly positioned in Europe with a market share of 25% and is expanding its presence in the United States and Japan.
Guerbet, listed on Eurolist Euronext Paris in compartment B had sales in 2008 of €321 million with a total workforce of 1,270 employees.
For more information: visit www.guerbet.com
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