Copenhagen, May 15, 2014 (GLOBE NEWSWIRE) -- ALK ( ALKB:DC / OMX: ALK B / AKABY / AKBLF) today announced that its ragweed sublingual allergy immunotherapy tablet, which is licensed to Merck (known as MSD outside the USA and Canada) for North America, has now been launched in Canada.
The product is known in Canada as RAGWITEK (tm).
The launch announcement follows regulatory approval from the Canadian authorities of the New Drug Submission (NDS).ALK's President and CEO, Jens Bager, said: "The launch brings an effective new treatment to ragweed allergy sufferers in Canada. RAGWITEK(tm) as well as GRASTEK (r) are now available in both the USA and Canada. These launches mark major steps towards our ambition of globalising ALKs portfolio of sublingual allergy immunotherapy tablets." In Canada, RAGWITEK(tm) is indicated for reducing the signs and symptoms of moderate to severe seasonal short ragweed pollen induced allergic rhinitis, with or without conjunctivitis, in adults confirmed by clinically relevant symptoms for at least two pollen seasons and a positive skin prick test and/or a positive titre to Ambrosia artemisiifolia specific IgE, and who have responded inadequately, or are intolerant to conventional pharmacotherapy. Across North America, approximately 20 million allergy sufferers have been diagnosed with moderate-to-severe allergic rhinitis and seek treatment by a doctor. ALK-Abello A/S ALK will be hosting an R&D and business briefing for institutional investors, equity research analysts and media in New York City on May 21, 2014. Any questions regarding this event can be directed to Janet Dally at firstname.lastname@example.org (+1 609-466-0466). Please use this link to register online: https://www.regonline.com/Alkbusinessbriefing For further information please contact: Jens Bager, President and CEO, tel. +45 4574 7576 Investor Relations: Per Plotnikof, tel. +45 4574 7527, mobile +45 2261 2525 Press: Martin Barlebo, tel. +45 4574 7901, mobile +45 2064 1143 About ALK ALK is a research-driven global pharmaceutical company focusing on allergy prevention, diagnosis and treatment. ALK is the world leader in allergy immunotherapy - a unique treatment of the underlying cause of allergy. The company has approximately 1,800 employees with subsidiaries, production facilities and distributors worldwide. ALK has entered into partnership agreements with Merck and Torii to commercialise sublingual allergy immunotherapy tablets in North America and Japan, respectively. The company is headquartered in Hoersholm, Denmark, and listed on NASDAQ OMX Copenhagen. Find more information at www.alk.net. About the partnership with Merck in North America ALK has entered into a strategic partnership with Merck to develop, register and commercialise a portfolio of sublingual allergy immunoterapy tablets against grass pollen, ragweed and house dust mite allergy in the USA, Canada and Mexico. Under the agreement, ALK will receive up to DKK 1.6 billion (USD 290 million) in milestone payments from Merck, of which, approximately DKK 400 million has already been recognised in the years 2007-14. In addition, ALK is entitled to royalty payments on the net sales of the products on the North American market as well as payments for product supply. Merck will be responsible for all costs of clinical development, registration, marketing and sales of the products on the North American markets. ALK will be responsible for tablet production and supply.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts