SIE 0.00% 6.8¢ scigen limited

10 mill traded up, page-2

  1. 3,439 Posts.
    ASX Announcement and Media Release Thursday 24 July 2003 SciGen Limited INDIAN COMMERCIAL PARTNERSHIP GROWS

    SciGen Limited (“SciGen”) today announced that it has executed contract manufacturing agreements with Shreya Biotech Private Limited (“Shreya Biotech”) for a range of SciGen’s biotechnology derived products. Shreya Biotech are building a new biotechnology manufacturing facility in Pune, India (150km from Mumbai) at an investment cost of approximately US$30 million. It is anticipated that this plant will be completed by January 2005. This manufacturing plant will give SciGen the opportunity to produce high quality product at improved margins going forward. This agreement further consolidates the relationship between SciGen, Shreya Life Sciences (“Shreya”) and Ranbaxy Pharmaceuticals (“Ranbaxy”) in India. SciGen has previously announced the execution of a commercialisation agreement with both Shreya and Ranbaxy to market, sell and distribute SciGen’s recombinant human insulin (“SciLin”) in India. The previously executed commercialisation agreements comprehend sale of other products in SciGen’s portfolio. The agreements require both companies to exclusively sell SciLin and no other recombinant human insulin during the 10 year term of the agreement. The commercialization agreements contain minimum order provisions of US$1.8 million over the 3 years following registration. However, the company believes the sales of both Shreya and Ranbaxy combined could exceed US$5 million over the 3 years. Ranbaxy is a publicly listed pharmaceutical company in India and on the NYSE with annual sales of approximately SG$450 million. Shreya is a private company in India with annual sales of approximately US$350 million. The contract manufacturing agreement announced today, further consolidates the commercial strength of SciGen’s entry into the Indian market by providing reliable, cost effective manufacturing facilities to support SciGen’s supply in India and the rest of the Asia Pacific region. Insulin (“SciLin”) SciGen is currently working with the Indian Ministry of Health to finalise registration of insulin in India. Approval by the Genetic Engineering Advisory Committee in India was given on 6 March 2003. The Company expects final approval by the Drug Controller General of India this calander year and it is still anticipated that sales of SciGen’s insulin (SciLin) will commence in the first half of FY04. Hepatitis B Vaccine (“Sci-B-Vac”) The registration documents for SciGen’s third generation Hepatitis B vaccine (“Sci-B-Vac”) have been submitted to the Indian authorities and the registration process is underway. The company has previously announced that Sci-B-Vac has received approval by the Genetic Engineering Advisory Committee (“GEAC”) in India. Registration of Sci-B-Vac is expected by mid calander year 2004. Human Growth Hormone (“SciTropin”) SciGen’s application for registration of SciTropin in India is progressing with the latest information available suggesting registration by mid September with sales commencing soon afterwards. Shreya will market and sell SciLin, Sci-B-Vac and SciTropin through their sales force of over 1,200 sales representatives. Ranbaxy will market and sell SciLin using their field force of over 1,800 staff. SciGen continues to consolidate its position in entering the large pharmaceutical market of India. In addition to this, the company will continue to grow in other territories in the Asia Pacific region.

    About SciGen SciGen Ltd is a progressive biotechnology/biopharmaceutical company involved in co-developing and marketing genetically engineered biopharmaceutical products for human healthcare. SciGen focuses in the areas of gastroenterology, endocrinology and immunology. Its product portfolio includes vaccines and therapeutics. SciGen has acquired the rights to manufacture, distribute and market biopharmaceutical products under exclusive licensing arrangements. SciGen’s portfolio currently includes proprietary biotechnology-derived products, and biogeneric products, which allows for faster entry into the market, as the biogeneric products have undergone much of the clinical development and trials required to bring new drugs to market. This minimises the risks associated with early stage product development. SciGen currently undertakes R&D activities in collaboration with strategic partners and institutions. SciGen’s major strength lies in its ability to recognise the potential of new products in their early stages of development. Through joint collaboration with its strategic partners, SciGen uses its extensive expertise in regulatory and clinical environments, in conjunction with marketing and promotional infrastructure, to bring to market products which will have significant long-term benefit. SciGen’s business was established in 1988. SciGen is a Singaporean biotechnology company, publicly listed on the Australian Stock Exchange (ASX code SIE). SciGen’s headquarters is in Singapore and it also has offices in Australia, USA, Korea, Vietnam, Hong Kong and Philippines and partners in India, Indonesia, Israel, Poland and the Netherlands.

    Media enquiries Mark Compton Managing Director & CEO Telephone: +61 2 9234 1700 Web:
watchlist Created with Sketch. Add SIE (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.