STADA agreement extended for the Nordic Region
STOCKHOLM, Dec. 9, 2020 /PRNewswire/ -- Enzymatica and its German partner STADA have extended the agreement for the common cold spray ViruProtect® (ColdZyme) for the Nordic Region excluding Sweden. Thus, the extended agreement includes Denmark, Norway, Finland and Iceland. The launch of ViruProtect in these markets is expected to take place in 2021. The cough & cold market for Denmark, Norway, Finland and Iceland is estimated to almost SEK 1.5 billion1.
Since earlier Enzymatica and STADA have a successful co-operation for the sale of ViruProtect in a large number of countries, mainly in Europe but also in Russia, Poland, Ukraine and CIS (the Commonwealth of Independent States, formerly the USSR). With the extended agreement for Denmark, Norway, Finland and Iceland ViruProtect covers in total about 40 markets.
The OTC market in Denmark, Norway, Finland and Iceland is expected to have a value altogether of about SEK 11.2 billion1.The Danish and Norwegian OTC markets are estimated at SEK 2.1 billion respectively SEK 1.9 billion, and with an annual growth rate of 1%2. The Finnish OTC market is valued at about SEK 7 billion with an annual growth rate of 2.8%3. The Icelandic OTC market is valued at about SEK 0.2 billion with an annual growth rate of 11.3%4. The Danish cough & cold market is estimated at about SEK 400 million5, the Norwegian to SEK 350 million6 and the Finnish to more than SEK 700 million7. The Icelandic respiratory and cough & cold market (excluding medical device products) is valued at about SEK 28 million8. Due to the corona pandemic the cough & cold markets in Denmark, Norway and Finland have decreased by about 10% during 20209. In Iceland the respiratory and cough & cold market has decreased by about 2% during 202010.
The distribution of OTC products in Denmark and Norway is handled by the pharmacy chains, whereof three in Denmark and four in Norway. In Finland, there are no large pharmacy chains, instead the market consists of separate pharmacies. In total, there are 510 pharmacies in Denmark, 981 in Norway and 812 in Finland.
Enzymatica has marketed and sold ColdZyme in the Danish and Norwegian since 2014, and in the Finnish market, through Tamro, since 2015. Enzymatica's subsidiary Zymetech has sold PreCold (ColdZyme) in Iceland since 2015. Enzymatica will continue to sell its cold spray in Denmark, Norway and Iceland, and in parallel STADA will sell ViruProtect in these markets. Both companies consider that there is room for several common cold sprays based on ColdZyme's successful barrier technology. In Finland, Tamro will continue to sell ColdZyme in parallel with STADA who will sell ViruProtect.
"Having recently launched ViruProtect in several countries through our extensive European marketing and sales network, STADA is delighted to have extended our successful partnership with Enzymatica to cover Denmark, Finland, Iceland and Norway," commented Steffen Wagner, Executive Vice-President, European Markets at STADA.
"We are very satisfied for the continued trust by STADA. The interest by consumers for cold sprays is big and there is room for additional products alongside our own brand ColdZyme. The extended agreement shows also the strength of our barrier technology for the protection against common cold virus," says Claus Egstrand, Chief Operating Officer at Enzymatica.
References:
1. Norsk Apotekerforening Total 2019, Dansk Aptekerforening Total 2019, Tamro MAT2019, Vistor, IDM - Icelandic Drug Market, 2019
2. Norsk Apotekerforening Total 2019, Dansk Aptekerforening Total 2019
3. Tamro, MAT2019
4. Vistor, IDM - Icelandic Drug Market, 2019
5. DLIMI (Dansk Laegemiddelsindustri Market insight), Sales to consumers in Denmark, MAT Oct 2020
6. IQVIA, Sales to consumers in Norway, MAT, Oct 2020
7. Tamro, MAT2019
8. Vistor, IDM - Icelandic Drug Market, 2019
9. IQVIA, Sales to consumers in Norway, MAT, Oct 2020, DLIMI (Dansk Laegemiddelsindustri Market insight), Sales to consumers in Denmark, MAT Oct 2020, Tamro, Sales to consumers in Finland, Jan-Sept 2020
10. Vistor, IDM - Icelandic Drug Market, Sales to pharmacies in Iceland, Jan-Nov 2020
For more information, please contact:
Enzymatica
Claus Egstrand, Chief Operating Officer Enzymatica AB
Phone: +44 7780 22 8385 | E-mail: claus.egstrand@enzymatica.com
Carl-Johan Wachtmeister, Communication manager Enzymatica AB
Phone: +46 (0)701-88 50 21 | Email: carl-johan.wachtmeister@enzymatica.com
STADA
STADA Arzneimittel AG / Media Relations
Stadastrasse 2-18 / 61118 Bad Vilbel / Germany
Phone: +49 (0) 6101 603-165 / Fax: +49 (0) 6101 603-215 / E-Mail: press@stada.de Or visit us on the Internet at www.stada.com/press
About STADA Arzneimittel
STADA Arzneimittel AG is headquartered in Bad Vilbel, Germany. The company focuses on a two-pillar strategy consisting of generics, including specialty pharmaceuticals and non-prescription consumer health products. Worldwide, STADA sells its products in approximately 120 countries. In financial year 2019, STADA achieved adjusted Group sales of EUR 2,608.6 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 625.5 million. STADA employs more than 12,400 people worldwide.
About Enzymatica AB
Enzymatica AB is a Swedish life science company that develops and sells health care products for primarily conditions of the ear-nose-and-throat region. The products are based on a barrier technology that includes marine enzymes. The company's first product is the medical device ColdZyme®, a mouth spray against common cold. The product has been launched in about 30 markets on 3 continents. The strategy is to continue to grow by developing more health care products and strengthening the company's position in existing markets and expanding into new geographic markets through established partners. The company has its headquarters in Lund and is listed on Nasdaq First North Growth Market. For more information, visit: www.enzymatica.com and www.enzymatica.se/en/section/media/press-releases
Enzymatica's certified adviser is Erik Penser Bank. Phone: +46 (0)8 463 83 00. Email: certifiedadviser@penser.se
Enzymatica AB Ideon Science Park, SE-223 70 Lund, Sweden Telefon +46 46-286 31 00
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