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Release issued 1st October 2002
United Pharmaceuticals has taken over the intellectual property, processes and know-how of Stowic Ltd., a British company that develops transdermal products for drug delivery. Several generic and novel proprietary transdermal formulations have been developed with its patented technology. The EU regulatory file for nicotine products is near completion to be followed by nitroglycerin and scopolamine. United Pharmaceuticals will be one of only five companies in the world manufacturing transdermal patches. The company believes its technology's features - smaller patch sizes and controlled release (zero order) - provide a clear advantage over competing products. United Pharmaceuticals will be responsible for local marketing of the finished products and is seeking licensing partners for the US and EU.
According to Thomas Ericsson, United Pharmaceuticals' President and CEO: "This is a unique opportunity for United Pharmaceuticals to grow globally into established markets using novel technologies to add value to our existing and planned pipeline with unique applications and new indications that will benefit patients. We understand the increasing need for pharmaceutical companies to deliver value for both patients and their respective healthcare systems. Together with our existing capabilities, transdermal drug delivery will enable United Pharmaceuticals to further solidify its position in Europe and to penetrate the important US market."
Munjed Sukhtian, Chairman of United Pharmaceuticals, stated: "This is a first step in the process to add new business to United Pharmaceuticals, making it an international company with its own patented technologies. It is also worth noting that Mr. Ericsson has considerable experience in patch technology and related fields from his earlier professional career. This expertise is an additional asset for United Pharmaceuticals."
For more information please contact: Thomas Ericsson, +962 6 416 2901 or email@example.com United Pharmaceuticals formulates, registers and produces a broad range of high quality products marketed in Europe and the Middle East. It was the first company in the Middle East to obtain marketing authorization for the European Union. Its capabilities include transdermal patches (Stowic technology), , solid oral dosage forms, soft gelatin capsules, suppositories and dry suspensions. United Pharmaceuticals also offers contract manufacturing in its GMP approved facilities.
If you want to find out more about the company visit United Pharmaceuticals profile.
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