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Glucomed, with a history dating back to 1997, focuses on the production of glucosamine API and finished products. The company has developed a novel method of production of pharmaceutical-grade product giving a higher percentage yield for the same cost, so reducing cost per kilo. Glucosamine is indicated for the treatment of osteoarthritis.

“We are focused on one product and one indication because this allows us to pick up all the relevant developments in the industry. Our vertical integration allows us to retain the best business intelligence from top to bottom,” Øyvind Brekke, CEO, told Partnering Focus.

Glucomed is seeking to market its high quality product in markets where glucosamine has been classified as a medicine, or can be registered as medicine.

“We are looking to these markets specifically because these require the levels of quality control and documentation that we can provide. Our higher quality is essential for this market – however, the added value is not equally recognized in the less tightly controlled nutraceutical markets. Glucomed’s glucosamine product has been carefully formulated, and the stability has been improved without the addition of too many excipients.”

Glucomed is in the process of getting marketing approval for its glucosamine product Glucomed™, beginning in Europe via the mutual recognition procedure (MRP). The company has not disclosed the rapporteur country. Glucosamine is classified as a pharmaceutical product in the Scandinavian countries together with Spain, Portugal, India and some countries in South America. In some other European countries, glucosamine can either be registered as a medicine, or sold as a nutraceutical with no claims.

Glucomed’s licensing strategy is to seek partners with strengths in one or a few markets, and a complementary portfolio. Partners will be involved in distribution and sales, with an option to be involved in product development.

Glucosamine for osteoarthritis in humans has potential to be a large market – however, there are a number of strategies that Glucomed is considering to expand its business and market reach.

• Chondroitin – this has similar indications to glucosamine, but does not have yet have approval as a pharmaceutical. If chondroitin gained this approval is could be a potential area of expansion
• Different formulations
• Veterinary markets
• Functional foods
• Additional indications

“In five years time, I see Glucomed as being a fully-integrated company covering the entire production process from raw material through API to finished products. We expect to be established in several markets within and outside Europe, and working on line extensions through our product development programs and through the use of other active ingredients. We will market these through an expanded and substantial network of representatives.”

Full details at http://pharmalicensing.com/company/dc/4766

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