Concordia International (NASDAQ: CXRX) is trading nearly 4% higher a day after the pharmaceutical company announced its three-year, co-promotion agreement with RedHill Biopharma Ltd. (NASDAQ: RDHL) to expand sales of Donnatal®, Concordia’s product used in the treatment of irritable bowel syndrome. Per the agreement, RedHill will aim to increase the promotion of Donnatal® among U.S. doctors who treat irritable bowel syndrome. Additionally, RedHill will incur the sales and marketing costs while Concordia will provide materials and samples. Marketing efforts are anticipated to begin during the current quarter. “This agreement is a cost-effective approach to promoting Donnatal® in a manner consistent with our long-term strategic focus on operational excellence,” Allan Oberman, CEO of Concordia, stated in the news release.
To view the full press release, visit: http://nnw.fm/dbCW2
About Concordia
Concordia is a diverse, international specialty pharmaceutical company focused on generic and legacy pharmaceutical products and orphan drugs. The Company has an international footprint with sales in more than 100 countries, and has a diversified portfolio of more than 200 established, off-patent molecules that make up more than 1,300 SKUs. Concordia also markets orphan drugs through its Orphan Drugs Division, consisting of Photofrin® for the treatment of certain rare forms of cancer. Concordia operates out of facilities in Oakville, Ontario and, through its subsidiaries, operates out of facilities in Bridgetown, Barbados; London, England and Mumbai, India. To learn more visit www.concordiarx.com
About RedHill Biopharma Ltd.
RedHill Biopharma Ltd. (NASDAQ/TASE: RDHL) is a specialty biopharmaceutical company headquartered in Israel, primarily focused on the development and U.S. commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for the treatment of gastrointestinal and inflammatory diseases and cancer. RedHill has a co-promotion agreement with Concordia for Donnatal®, an oral commercial adjunctive therapy in the treatment of IBS and acute enterocolitis. RedHill’s pipeline of proprietary products under development includes: (i) RHB-105 – an oral combination therapy for the treatment of Helicobacter pylori infection with successful results from a first Phase III study; (ii) RHB-104 – an oral combination therapy for the treatment of Crohn’s disease with an ongoing first Phase III study and a completed proof-of-concept Phase IIa study for multiple sclerosis; (iii) BEKINDA® (RHB-102) – a once-daily oral pill formulation of ondansetron with an ongoing Phase III study for acute gastroenteritis and gastritis and an ongoing Phase II study for IBS-D; (iv) RHB-106 – an encapsulated bowel preparation licensed to Salix Pharmaceuticals, Ltd.; (v) YELIVA® (ABC294640) – a Phase II-stage, orally-administered, first-in-class SK2 selective inhibitor targeting multiple oncology, inflammatory and gastrointestinal indications; (vi) MESUPRON – a Phase II-stage first-in-class, orally-administered uPA inhibitor, targeting gastrointestinal and other solid tumors and (vii) RIZAPORT® (RHB-103) – an oral thin film formulation of rizatriptan for acute migraines, with a U.S. NDA currently under discussion with the FDA and marketing authorization received in Germany in October 2015. To learn more visit www.redhillbio.com
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