ESP Pharma Announces Strategic Marketing Alliance with European Based OTL Pharma; ESP Pharma Achieves Key Milestone in Establishing a Global Marketing Reach.Business Editors & Medical/Healthcare Writers BIOWIRE2K ESP (1) (Enhanced Service Provider) An organization that adds value to basic telephone service by offering such features as call-forwarding, call-detailing and protocol conversion. Pharma, Inc. today announced a strategic alliance with French based OTL OTL Office of Technology Licensing OTL Out To Lunch OTL Overtime Loss (hockey) OTL Over The Line (tournament in San Diego, CA, USA) OTL Output Transformer-Less (audio systems) Pharma. The alliance significantly broadens each company's marketing reach into the other's home pharmaceutical market. ESP Pharma noted that under the terms of the agreement, OTL Pharma becomes the preferred marketing partner for the Company's ethical drug products in the fifteen-member European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community . Additionally, the alliance makes ESP Pharma the preferred marketing partner for OTL Pharma in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Both companies share strong synergies that include proven management teams and a strategic focus on acquiring, developing, and enhancing the marketing of niche-oriented value-added therapeutics therapeutics Treatment and care to combat disease or alleviate pain or injury. Its tools include drugs, surgery, radiation therapy, mechanical devices, diet, and psychiatry. to satisfy unmet medical needs and help physicians improve patient outcomes. By creating cross Atlantic access to the U.S. and E.U., the world's two largest pharmaceutical markets, today's announced alliance is expected to provide significant benefits in terms of enhanced in-licensing and product acquisition opportunities, greater returns on prospective product acquisitions, and additional support for the rapid growth each company is experiencing. Since being incorporated in April 2002, ESP Pharma has successfully completed a first round of financing through a preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. private placement. ESP Pharma acquired the U.S. rights from Wyeth (NYSE NYSE See: New York Stock Exchange :WYE) to four in-market cardiovascular products--including Cardene(R) IV--and has begun building a U.S. sales force. Meanwhile, OTL Pharma, which was founded in 1998, currently has a portfolio of six specialty therapeutics marketed in several European countries. During 2002, OTL Pharma plans to establish a subsidiary in each of its key markets supported by private funding and cash flow from product sales. John Spitznagel, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ESP Pharma said, "OTL Pharma is currently building an excellent marketing infrastructure within the E.U., and the strategic alliance between our companies represents an important milestone in ESP Pharma's aggressive growth plans. Since May 22nd of this year, we have established the foundations of long-term growth and, by now partnering with OTL Pharma, we have taken the first step in our commitment to position ESP Pharma to take advantage of global opportunities within the pharmaceutical industry." Jean-Francois Labbe Jean-Francois Labbe, nicknamed Ti-Mine, (born June 15, 1972 in Sherbrooke, Quebec) is a Canadian professional ice hockey goaltender currently playing for the Vienna Capitals in Austria's Erste Bank Hockey League. He was never drafted in the National Hockey League. , President and CEO of OTL Pharma said, "We look forward to working with ESP Pharma and its strong management team. The relationship between our companies greatly enhances OTL Pharma's access to the U.S. pharmaceutical market, and we share in ESP Pharma's enthusiasm regarding the prospects for significant new growth opportunities for both companies arising from this alliance. We plan to complement and enhance one another's strategies for continued growth and profitability." About ESP Pharma ESP Pharma is committed to Excellence in Specialty Pharmaceuticals and is dedicated to helping physicians improve patient outcomes in the acute care setting. Led by a strong management team, the Company focuses on exploring and identifying opportunities to selectively acquire and enhance the market potential of novel, commercially available therapeutics and late-stage development drugs to fulfill unmet market needs. Opportunities for ESP Pharma to acquire product marketing, manufacturing, and development rights are the result of several factors, including industry consolidation and because many existing and developmental drugs cannot meet the revenue thresholds necessary for major pharmaceutical companies. ESP Pharma, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , has investment support from the leading healthcare venture capital and private equity firms of Domain Associates, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (http://www.domainvc.com/), Apax Partners, Inc. (http://www.apax.com/), and New Enterprise Associates (http://www.nea.com/). Additional information about ESP Pharma is available on the internet at http://www.ESPPharma.com/ About OTL Pharma OTL Pharma is a privately held European pharmaceutical company headquartered in Paris, France and focused on Offering Therapies for Life. The company is dedicated to acquiring, developing, registering and marketing high-value specialty therapeutics, including niche products for hospitals and medicines used to treat rare diseases. OTL Pharma's current portfolio includes six specialty products which are marketed in several European countries for the treatment of oncologic, haematologic, cardiovascular and neurological conditions Neurological conditions A condition that has its origin in some part of the patient's nervous system. Mentioned in: Pervasive Developmental Disorders . OTL Pharma expects to complement this portfolio, in the coming months, by the addition of other products currently under negotiation, including innovative orphan drugs orphan drug, drug developed under the U.S. Orphan Drug Act (1983) to treat a disease that affects fewer than 200,000 people in the United States. The orphan drug law offers tax breaks and a seven-year monopoly on drug sales to induce companies to undertake the in key therapeutic fields. The company is focused on expanding its presence and establishing a major role in Europe's hospital and specialty medicines market. Additional information about OTL Pharma is available on the internet at: http://www.otl-pharma.com |
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