Hydroxyzine EQL Pharma has become approved for sale by the Swedish, Norwegian and the Danish Medicines Agencies. Approval in Finland is expected shortly.
Hydroxyzine EQL Pharma belongs to a group of medicines called sedating antihistamines. It has several areas of use which include treatment of anxiety and treatment of certain types of allergic reactions.
The total yearly turnover for the original product in the markets that EQL are looking to enter is approximately SEK 34 million. Currently there is no other competitor than the original product on the market. EQLs goal is to start selling the product in Q1 2015 at latest.
A prerequisite for successful sale of the product is that it is assessed as medically substitutable by the Nordic Medicines Agencies. This is likely to happen within the coming weeks. There is however no absolute guarantee to receive medical substitution status, even though the vast majority of generics do get a positive reply when having reached this phase.
“We are very pleased to see that yet another of our niche generics now has been approved and is approaching launch. The product is a part of our long term investment in new strategic niche generics having little or no competition. The product is important in order for EQL to achieve the financial goals for 2015 – a turnover between SEK 30m and 50m and an EBITDA of SEK 7-12m”, says Christer Fåhraeus, CEO at EQL Pharma.
For further information, please contact:
CEO EQL Pharma AB (publ)
Telefon: +46 (0) 705 – 60 90 00
EQL Pharma AB in short
EQL Pharma is specialised in development and sales of generics, i.e. pharmaceuticals that are medically equivalent to original pharmaceuticals. The company has three (3) niche generics on the market and a pipe-line that will increase with at least 4 additional “first-in-class generics” (generics having no or very limited competition in addition to the original) at the latest during 2015, and at least another six (6) niche generics during 2016. The company is currently entirely focused on prescription medicines in the Nordic countries.