DARA BioSciences, Inc. (NASDAQ: DARA)
DARA BioSciences, Inc. (Nasdaq:DARA) announced today that it has entered into an exclusive distribution agreement with Seyer Pharmatec Inc. for the sale and distribution of Soltamox® (tamoxifen citrate, oral solution) in the Commonwealth of Puerto Rico. DARA plans to launch Soltamox later this year.
Dr. David J. Drutz, DARA's chief executive officer, stated: "The exclusive agreement with Seyer Pharmatec to sell and distribute Soltamox in Puerto Rico leverages DARA's existing commercial infrastructure, provides DARA with a well-respected and established commercial partner, and presents an opportunity to make Soltamox and potential future cancer-support products readily available for patients in this important market. Since DARA has exclusive rights to market Soltamox in the United States and its territories and possessions, our partnership with Seyer Pharmatec will help us maximize Soltamox sales.”
Soltamox is the first and only FDA-approved oral liquid formulation of tamoxifen citrate, a first-line therapy for the prevention and treatment of breast cancer. A significant number of breast cancer patients may have difficulty swallowing pills. This leads some patients to crush pills, mix them with food, or miss doses. Due to difficulty swallowing solid tablets, some patients may discontinue therapy altogether. The availability of liquid tamoxifen offers women with breast cancer a convenient, comfortable and easy-to-swallow alternative.Seyer Pharmatec is focused on acquiring or in-licensing innovative pharmaceutical products, such as Soltamox, for the Puerto Rico market. With a seasoned national sales force and fully integrated distribution services, Seyer is recognized as a leading specialty pharmaceutical company in Puerto Rico. About DARA BioSciences, Inc. DARA is a specialty pharmaceutical company focused on the development and commercialization of oncology treatment and supportive care products. DARA sharpened its focus in oncology through its January 2012 acquisition of Oncogenerix, Inc., which holds the exclusive U.S. marketing rights to Soltamox®. Soltamox is a novel oral liquid formulation of tamoxifen citrate, a product used widely in the treatment and prevention of breast cancer. Soltamox is the only FDA approved oral liquid version of tamoxifen citrate and fulfills a vital clinical need for patients who cannot tolerate existing solid tablet formulations of this drug. DARA plans to begin marketing Soltamox in the U.S. later this year. Additionally, in June 2012 DARA launched its first product, Bionect ®, a topical treatment for skin irritation and burns associated with radiation therapy. Prior to acquiring Oncogenerix, DARA was focused on the development of a cancer-support therapeutic compound, KRN5500, for the treatment of neuropathic pain in patients with cancer. This product is an excellent fit with DARA’s strategic oncology focus, has successfully completed a Phase IIa study, and has been designated as a Fast Track Drug by the United States Food and Drug Administration. DARA is working with the National Cancer Institute (NCI) to design an additional clinical trial under joint DARA-NCI auspices while considering further Phase 2 development.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV