Alvogen and Covis Pharma have entered into an exclusive partnership and distribution agreement for the commercialization of Alvesco® (ciclesonide), a leading medicine for the treatment of persistent asthma. The long-term partnership arrangement includes the rights to market the product in Bulgaria, Czech Republic, Hungary, Kazakhstan, Latvia, Poland, Romania, Russia and Slovakia.
Whilst terms of the transaction are not being disclosed, Alvogen will assume responsibility for sales, promotion and marketing. Alvesco® will compliment and further accelerate growth for Alvogen’s respiratory business in the region.
Hacho Hatchikian, Executive Vice President of Alvogen CEE, commented:
Steen Vangsgaard, General Manager Covis Pharma Europe & ROW, commented:
Alvesco® (ciclesonide) is an inhaled anti-inflammatory maintenance therapy delivered by a metered-dose inhaler to help control persistent asthma. The active ingredient in the product is ciclesonide, a synthetic corticosteroid that reduces inflammation.