IS Pharma completes next stage approval to sell Haemopressin

PHARMACEUTICAL firm IS Pharma has successfully completed the first stage of a marketing authorisation procedure for its bleeding treatment.

Within Europe, Haemopressin / Variquel is already marketed in Germany, Austria and Switzerland.

Completion of the European Mutual Recognition Procedure for its Haemopressin/Variquel treatment is the precursor to the grant of marketing authorisations across a further 14 European territories, which is expected to go ahead in the next financial year.

The company said the treatment is also in the registration process in the US where it has been granted orphan drug and fast track status.  

IS Pharma secured the brand in April 2008 as part of its acquisition of Speciality European Pharma International AG. 

The treatment is a key global brand for the company and the granting of MRP approval and the subsequent launches across Europe will significantly increase its sales potential in a global market that IS Pharma estimates to be £50m to £70m.

Tim Wright, chief executive of IS Pharma, said: “This approval marks the achievement of another significant milestone in our growth and further validates our strategy as we again demonstrate the company’s ability to acquire, internationalise and organically grow brands to deliver shareholder value.”