MONTREAL, QUEBEC--(Marketwired - April 25, 2016) - Knight Therapeutics Inc. (TSX:GUD), through one of its wholly-owned subsidiaries ("Knight"), announced today that it has entered into an exclusive distribution agreement with EMPA Healthcare LLC ("EMPA") to commercialize Neuragen®, a topical natural health product used to relieve the symptoms of peripheral nerve pain, in the United Arab Emirates and Kuwait. EMPA will also have non-exclusive distribution rights in the other Gulf Cooperation Council ("GCC") countries. Knight may extend exclusivity on a country-by-country basis should certain minimum sales targets be met in each GCC country. Knight sold the rights to Neuragen® in the U.S. in June 2015 and retains the rights for all other territories.
Under the terms of the agreement, EMPA will register, import, distribute and market the product in the United Arab Emirates, Kuwait and GCC countries while Knight will maintain responsibility for product supply.
Michel Loustric, President of Knight Therapeutics (Barbados) Inc., stated, "I am delighted that EMPA Healthcare will be representing Knight in the promotion and distribution of Neuragen® in the United Arab Emirates and Kuwait. EMPA's distinguished business approach which includes building strong relationships with customers and healthcare stakeholders to provide outstanding healthcare services is in keeping with the core values of Knight. Together, Knight and EMPA will be able to offer relief to those suffering from peripheral nerve pain."
"We are pleased to be working with Knight on launching Neuragen® in the UAE and Kuwait," said Moutassem Sharaf, Managing Director of EMPA Healthcare LLC. "We appreciate the trust that the Knight team have placed in us to make this important product available to patients experiencing peripheral nerve pain in the Middle East."
About Neuragen®
Neuragen® is formulated to relieve the symptoms of peripheral neuropathic pain. Unlike oral medications, it is a topical product that acts directly at the site of pain and is believed to work by reducing the spontaneous firing of damaged peripheral nerves. In a randomized, double blind, placebo controlled study, Neuragen® was clinically shown to significantly reduce neuropathic pain quickly, and with fewer side effects than oral medications. Neuragen® is available as an over-the-counter product in most leading pharmacies across Canada and the United States. As such, Neuragen® represents an easy-to-access treatment option for the millions of consumers seeking symptomatic relief from this difficult to treat condition. For more information, please visit www.neuragen.ca.
About Knight Therapeutics Inc.:
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets. Knight Therapeutic Inc.'s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the Company's web site at www.gud-knight.com or www.sedar.com.
About EMPA Healthcare LLC
EMPA Group established Middle East operations in 1998 in Dubai, United Arab Emirates, and currently has four divisions: Healthcare, Distribution, Business Solutions and Retail. The Healthcare division focuses on using well-established networks to make vital products and services more accessible to patients in the region. For further information, please visit www.empahealthcare.com.
Forward-Looking Statement
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2015. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.