Press Release: Pharmaceutical innovation is the engine of growth of ESTEVE in generics, both for its partners and subsidiaries Pensa and Breckenridge
ESTEVE is the first company to develop and patent an optimized formulation of Omeprazole, the most widely consumed stomach protector
The new formulation is manufactured exclusively at the pharma plant of Martorelles (Barcelona), one of the cutting-edge plants in Europe
A worldwide leader in pharmaceutical innovation, the company is to invest 20 million euros annually for the next three years in generic R&D
LIGHTNING RELEASES: Barcelona (6/18/2014)- Pensa Pharma (PENSA), ESTEVE’s subsidiary in generic products and Esteve’s partners, just launched a new formulation of the best known and most consumed stomach protector in Spain and worldwide: omeprazole. As a result of its strong commitment to pharmaceutical innovation, Esteve has become the world’s first company to patent and market the new formulation of omeprazole.
Chiefly, the innovation consists in an optimized formulation of this generic product that allows reducing the capsule size while providing the capsule with higher stability and lower sensitivity to moisture-induced deterioration. The size of the final container has also been reduced by 43% for more convenient use, smaller storage space, and less residues in the environment.
Spain is the first market where the new formulation of omeprazole will be marketed by PENSA and three other leading companies in the generic product sector. In the rest of the world, the products will be marketed by PENSA’s subsidiaries and also by means of licensing agreements and other agreements with some of the main global generic companies.
Global ambition and commitment to generic drug innovation
The new omeprazole formulation has been developed at the innovation and pharmaceutical production center located in the Martorelles plant, which today exports 60% of its production all over the world and is one of the most modern, better equipped, cutting-edge plants in Europe, mainly in pharmaceutical technology and innovation.
The company has approved a 2015-2017 plan whereby 20 million euros a year will be destined for pharmaceutical innovation. Adding to this major effort is the annual investment of 6 million euros in assets foreseen for the same period of time.
In addition to production facilities ―with a workforce of more than 400 collaborators―, this plant has a team of 50 people exclusively devoted to R&D and is worldwide leader in pelletization technology, that is, the manufacture of small granules (pellets) coated with a number of layers that contain the active ingredient. This technology can bring major advantages to the formulation of innovative medicines.
The landmark of this new worldwide patent of omeprazole is part of Esteve’s bet on international growth, announced in February this year on account of the acquisition by its subsidiary in USA, Breckenridge, of a portfolio of 25 generic products owned by US company Cypress Pharmaceutical Inc., for commercialization in the US market. In 2014, precisely, the company will strengthen its presence in the United States ―one of the most demanding markets in the world― with new in-house products.
The technology developed for the new omeprazole formulation paves the way for its use in other medicines. Also, the company is currently in advanced negotiations with several companies worldwide to manufacture this and other products at the Martorelles plant by using this cutting-edge technology.
Media enquiries: Mrs Àngels Valls, Communications Director, Tel.+34 93 446 62 86 [email protected]
For licensing and/or business opportunities, please contact: Mrs. Cinta Lacasa, PharmaDose and China Initiatives Director, Tel. +34 93 446 68 98, [email protected]
This story was originally published by American Banking News (http://www.americanbankingnews.com) and is the sole property of American Banking News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.americanbankingnews.com/2014/06/19/pharmaceutical-innovation-is-the-engine-of-growth-of-esteve-in-generics-both-for-its-partners-and-subsidiaries-pensa-and-breckenridge/
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.