inVentive signs up to help GeneraMedix’ epoprostenol
Epoprostenol, which is the generic name for GlaxoSmithKline’s (GSK) Flolan, is an infusion only product for the treatment of pulmonary arterial hypertensions that was first approved by the US Food and Drug Administration (FDA) in 1996.
Flolan lost patent protection in 2006 leading Israeli generics giant Teva Pharmaceutical industries to launch a non-branded version of the product in the US in April this year. Despite this, Teva’s product has failed to obtain a dominant market position with Flolan still generating sales of $80m this year, according to IMS Health.
GeneraMedix’ decision to outsource commercial activities is evidence that the firm is preparing to ramp-up efforts to compete with Teva and others entering the market.
Under the agreement, financial terms of which have not been disclosed, inVentive will join forces with the Stonefly Communications advertising agency to provide GeneraMedix with a structured marketing strategy.
inVentive will also work with product launch consultants Strategyx, which will be responsible to creating a pricing strategy based on market analysis, and brand developers Addison Whitney, which will help name GeneraMedix’ product.
GeneraMedix’ president of commercial operations, Robin Hoke, said that: "inVentiv Health's extensive branding and communications experience, deep knowledge of specialty marketing, and unique integrated approach make them an ideal strategic partner."
Hoke added that: "We are thrilled to be working with Stonefly and its collaborative culture of bringing in other inVentiv Health resources and expertise."
Stonefly’s CEO, John Racik was also upbeat about the commercial services deal. He commented that: "GeneraMedix has built a solid reputation in the generic injectable market and now has an opportunity to expand its business with the launch of a specialty brand.
"We're excited to be helping them build a deeper understanding of the market landscape and their prospective customers, and to develop a strong brand that leverages those insights," concluded Racik.
