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Oct 26, 2017 13:42 EEST
SOFIA (Bulgaria), October 26 (SeeNews) – US-based pharmaceutical company Achieve Life Sciences said on Thursday it has entered into an exclusive supply agreement with Bulgarian drug maker Sopharma [BUL:3JR] for the manufacture of cytisine active pharmaceutical ingredient and finished tablets.
Under the terms of the agreement, Sopharma agrees to produce cGMP-grade cytisine for Achieve's use in the development and commercialization of cytosine, Achieve Life Sciences said in a statement.
"This agreement with Sopharma reinforces our commitment and ability to bring cytisine forward as a new treatment option to help the millions of smokers who are battling nicotine and tobacco addiction," Rick Stewart, chairman and CEO of Achieve Life Sciences said.
Under the agreement, Achieve will have full access to the cytisine supply chain and Sopharma will manufacture sufficient cytisine to meet specified forecasted demand of cytisine in the Achieve territories.
The exclusive license agreement provides supply of cytisine to Achieve for up to 20 years, the statement reads.
Achieve Life Sciences, a clinical-stage pharmaceutical company, focuses on addressing the global smoking health epidemic through the development and commercialization of cytisine.
Cytisine is a plant-based alkaloid with a high binding affinity to the nicotinic acetylcholine receptor. It is an established smoking cessation treatment that has been approved and marketed in Central and Eastern Europe for over 20 years.
Sopharma traded 0.83% up at 4.002 levs ($2.4/2.0 euro) on the Bulgarian bourse by 1240 CET.
(1 euro=1.95583 levs)
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