Last checked at 11 Jun 2008 07:00
11 June 2008
Phytopharm plc
Launch of Phytopica® in Hong Kong
GODMANCHESTER, Cambridgeshire, U.K. (11 June 2008) - Phytopharm plc (PYM: London Stock Exchange) ("Phytopharm" or the "Company") announces today the launch of Phytopica® in Hong Kong by its partner, Intervet/Schering-Plough Animal Health.
In January 2006, Phytopharm entered into an exclusive global agreement with Schering-Plough Animal Health for the Company's canine skin health product, Phytopica®. Under the terms of the agreement, Phytopharm is responsible for manufacturing Phytopica® whilst Schering-Plough Animal Health is responsible for the global sales, marketing and distribution of Phytopica®. In April 2006, Schering-Plough Animal Health launched Phytopica® in the UK followed by launches in Italy and France in March and April 2007. The product has enjoyed firm support from veterinary dermatologists and recorded strong sales growth.
Phytopica® is effective in the management of canine skin health by providing a novel 3 in 1 approach to help maintain a normal healthy immune system, support normal white cell function and provide anti-oxidant benefits. The beneficial effects and excellent safety profile of Phytopica® have been proven extensively in clinical trials and the product has been found to be suitable for all dogs whatever size or breed.
In November 2007, Schering-Plough completed the acquisition of Organon BioSciences N.V which included the animal health business, Intervet. The enlarged animal health business is now operating as Intervet/Schering-Plough Animal Health. Following the Hong Kong launch, Intervet/Schering-Plough Animal Health will seek to market and distribute Phytopica® in further countries.
Canine dermatological disorders are recognised by veterinarians to be a major problem in small animal practice, with an estimated 15-30% of the global dog population affected by skin conditions (Muller & Kirk's Small Animal Dermatology, 6th Ed, 2000).
Commenting on today's announcement, Dr Daryl Rees, Chief Executive Officer of Phytopharm, said: "We are delighted with the launch of Phytopica® in Hong Kong by the one of the world's leading animal health companies and with Intervet/Schering-Plough Animal Health's continuing roll-out we look forward to further growth."
Commenting on today's announcement, Grace Xiao, Business Director Companion Animal Business Intervet/Schering Plough Animal Health (China) said: "We are very pleased to be launching Phytopica® in Hong Kong as it offers a safe, easy to use and cost effective approach to the long term management of canine skin health. Following the success in Europe and the increasing demand for safe and effective companion animal products in Hong Kong, we look forward to maximizing the potential of Phytopica®."
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Notes to Editors
Phytopharm plc
Phytopharm is a pharmaceutical development and functional food company. Our products are developed from medicinal plants, thereby reducing the development risk, cost and time to market. As a virtual company, Phytopharm's business model is centred on a lean cash burn with all laboratory, manufacturing and clinical work out-sourced to specialists, while core competencies such as strategy and management are maintained in-house. Close collaboration with charitable organisations enhances our interaction with worldwide specialists and accelerates our development programmes increasing their value.
Phytopica® is a registered trade-mark of Phytopharm plc.
| Enquiries Phytopharm plc Dr Daryl Rees CEO Piers Morgan CFO +44 1480 437 697 | U.K. Investor Relations FD David Yates John Dineen +44 207 831 3113 |
For further information about Phytopharm please see our website at http://www.phytopharm.com
Intervet/Schering-Plough Animal Health
In November 2007, Schering-Plough completed the acquisition of Organon BioSciences N.V which included the animal health business Intervet. The enlarged animal health business is now operating as Intervet/Schering-Plough Animal Health. Schering-Plough focuses on discovering and developing innovative new therapies in the human prescription, animal health and consumer health customer segments. The new combination with Intervet strengthens the animal health portfolio in several areas and brings together complementary lines of pharmaceuticals, biologicals and innovative services. The combined animal health business 'Intervet / Schering-Plough Animal Health' is not only the world market leader in the production of animal health vaccines, but is now also one of the world's leaders in the field of animal health - with offices in more than 50 countries, products marketed in over 120 countries, produced in 28 manufacturing sites and developed in 22 Research & Development facilities around the world.
Forward-looking statements
Certain information included in these statements is forward-looking and involves risk and uncertainties that could cause results to differ materially from those expressed or implied by the forward looking statements.
Forward-looking statements include, without limitation, projections relating to results of operations and financial conditions, market estimates, the Company's plans and objectives for future operations, including future revenues, financial plans and expected expenditures and divestments. All forward-looking statements in this report are based upon information known to the Company on the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events of otherwise. It is not reasonably possible to itemise all of the many factors and specific events that could cause the Company's forward looking statements to be incorrect or that could otherwise have a material adverse effect on the future operations or results of the Company.