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Cardiome Enters Commercialization Agreement With Eurolab Especialidades Medicinales For BRINAVESS™ In Argentina
|By PR Newswire
|August 25, 2014 02:00 PM EDT
NASDAQ: CRME TSX: COM
VANCOUVER, Aug. 25, 2014 /PRNewswire/ - Cardiome Pharma Corp. (NASDAQ: CRME /
TSX: COM) today announced that its subsidiary, Correvio International
Sàrl, has entered into an agreement with Eurolab Especialidades
Medicinales de Eurofar S.R.L. to sell and distribute BRINAVESS™
(vernakalant intravenous) exclusively in Argentina. Under the terms of
the agreement, Eurolab has agreed to specific annual commercial goals
for BRINAVESS™. Financial details of the agreement have not been
"This agreement with Eurolab allows for the continued availability of
BRINAVESS to our customers in Argentina," said Karim Lalji, Cardiome's
Chief Commercial Officer. "As the third largest country in South
America in terms of population, Argentina remains a key market for
BRINAVESS as we continue to build the brand in this region."
"We are excited to expand our hospital product offerings to our
customers with the addition of BRINAVESS to our portfolio," said
Gabriel Menendez, General Manager at Eurolab. "We are committed to
making this important drug for the conversion of atrial fibrillation
available to all of our customers throughout the country."
In 2010, the Argentine pharmaceutical market was valued at $5.1 billion
with growth of 29.1% on a year-on-year basis.1
Scrip Insights. The pharmaceutical market in Argentina. Dec 2011.
About Cardiome Pharma Corp.
Cardiome Pharma Corp. is a specialty pharmaceutical company dedicated to
the development and commercialization of cardiovascular therapies that
will improve the quality of life and health of patients suffering from
heart disease. Cardiome has two marketed, in-hospital, cardiology
products, BRINAVESS™ (vernakalant IV), approved in Europe and other
territories for the rapid conversion of recent onset atrial
fibrillation to sinus rhythm in adults, and AGGRASTAT® (tirofiban HCl)
a reversible GP IIb/IIIa inhibitor indicated for use in patients with
acute coronary syndrome.
Cardiome is traded on the NASDAQ Capital Market (CRME) and the Toronto
Stock Exchange (COM). For more information, please visit our web site
About Eurolab Especialidades Medicinales
Eurolab, headquartered in Buenos Aires, Argentina, supports the
Multinational Pharmaceutical Industry in the areas of manufacturing,
promotion and distribution of medicines in Argentina and Latin America.
Eurolab also produces its own prescription and OTC products. For more
information, please visit their web site at www.laboratorioseurolab.com.
Forward-Looking Statement Disclaimer
Certain statements in this news release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 or forward-looking information under applicable
Canadian securities legislation that may not be based on historical
fact, including without limitation statements containing the words
"believe", "may", "plan", "will", "estimate", "continue", "anticipate",
"intend", "expect" and similar expressions. Forward- looking
statements may involve, but are not limited to, comments with respect
to our objectives and priorities for the remainder of 2014 and beyond,
our strategies or future actions, our targets, expectations for our
financial condition and the results of, or outlook for, our operations,
research and development and product and drug development. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
events or developments to be materially different from any future
results, events or developments expressed or implied by such
forward-looking statements. Many such known risks, uncertainties and
other factors are taken into account as part of our assumptions
underlying these forward-looking statements and include, among others,
the following: general economic and business conditions in the United
States, Canada, Europe, and the other regions in which we operate;
market demand; technological changes that could impact our existing
products or our ability to develop and commercialize future products;
competition; existing governmental legislation and regulations and
changes in, or the failure to comply with, governmental legislation and
regulations; availability of financial reimbursement coverage from
governmental and third-party payers for products and related
treatments; adverse results or unexpected delays in pre-clinical and
clinical product development processes; adverse findings related to the
safety and/or efficacy of our products or products; decisions, and the
timing of decisions, made by health regulatory agencies regarding
approval of our technology and products; the requirement for
substantial funding to expand commercialization activities; and any
other factors that may affect our performance. In addition, our
business is subject to certain operating risks that may cause any
results expressed or implied by the forward-looking statements in this
presentation to differ materially from our actual results. These
operating risks include: our ability to attract and retain qualified
personnel; our ability to successfully complete pre-clinical and
clinical development of our products; changes in our business strategy
or development plans; intellectual property matters, including the
unenforceability or loss of patent protection resulting from
third-party challenges to our patents; market acceptance of our
technology and products; our ability to successfully manufacture,
market and sell our products; the availability of capital to finance
our activities; and any other factors described in detail in our
filings with the Securities and Exchange Commission available at www.sec.gov and the Canadian securities regulatory authorities at www.sedar.com. Given these risks, uncertainties and factors, you are cautioned not to
place undue reliance on such forward-looking statements and
information, which are qualified in their entirety by this cautionary
statement. All forward-looking statements and information made herein
are based on our current expectations and we undertake no obligation to
revise or update such forward-looking statements and information to
reflect subsequent events or circumstances, except as required by law.
SOURCE Cardiome Pharma Corp.
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