MONTREAL, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc., (TSX: GUD) ("Knight") a pan-American (ex-USA) specialty pharmaceutical company, announced today that its Brazilian affiliate, United Medical Ltda., has assumed full commercial activities and is re-launching Exelon® (rivastigmine) in Brazil following successful transfer of the marketing authorization.
On May 26, 2021, Knight completed the acquisition of the exclusive rights to manufacture, market and sell Exelon® in Canada and Latin America as well as the exclusive license to use the intellectual property and the Exelon trademark, from Novartis within those territories.
Exelon® is a prescription product that was first approved in 1997 and is currently registered and sold in approximately 90 countries. Exelon® is indicated for the symptomatic treatment of mild to moderately severe dementia in people with Alzheimer's disease and Parkinson's disease. Knight had entered into a transition service agreement with Novartis until transfer of marketing authorizations, on a country-by-country basis.
"Exelon® is an important therapeutic option for patients with Alzheimer’s disease, and we look forward to engaging with the Alzheimer’s community in Brazil to support patients and caregivers affected by this debilitating disease,” said Samira Sakhia, President & Chief Executive Officer of Knight.
“Alzheimer’s disease remains a growing problem worldwide and in Brazil. The number of individuals suffering from Alzheimer’s and other dementias is expected to double by 2030 which underscores the need for treatments like Exelon®. We emphasize the importance of companies like Knight that take an active interest in supporting this area of such high unmet need,” said Dr. Marco Túlio Gualberto Cintra, Geriatrician and Associate Professor at the department of internal medicine at Federal University of Minas Gerais (UFMG).
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing pharmaceutical products for Canada and Latin America. Knight's Latin American subsidiaries operate under United Medical, Biotoscana Farma and Laboratorio LKM. Knight Therapeutics 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.
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, 2021 as filed on www.sedar.com. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information or future events, except as required by law.
