By Business Wirevia The Motley Fool
Filed under: Investing
Derma Sciences Expands TCC-EZ® Market Reach with Long-Term Exclusive Global Rights Agreement
PRINCETON, N.J.–(BUSINESS WIRE)– Derma Sciences, Inc. (NAS: DSCI) , a medical device and pharmaceutical company focused on advanced wound care, announced today that it has signed a long-term exclusive global rights agreement with New Cast Industries Co. Ltd. of Korea for the casting element within the TCC-EZ® total contact casting system. Derma Sciences plans to begin sales of the system in markets throughout Europe, the Middle East, Asia and Latin America as soon as regional regulatory clearances allow, potentially as early as this summer in some instances.
The five-year agreement has automatic renewals and no sales minimums. Sales must commence by certain dates in certain geographies to maintain exclusivity in those geographies. Product will be supplied to Derma Sciences by New Cast at a discounted rate relative to prices for products sold into North America to account for pricing pressures known to exist in certain markets around the world. Further terms of the agreement were not disclosed.
This new agreement expands the Company’s existing agreement with New Cast Industries that covers sales in North America.
“Since our April 2012 acquisition of MedEfficiency, TCC-EZ has become an anchor product in our advanced wound care product portfolio with a current sales run rate of $8.5 million in the U.S. alone,” said Barry Wolfenson, Group President, Advanced Wound Care and Pharmaceutical Development at Derma Sciences. “We are very pleased with the pace of domestic sales growth, and expect that TCC-EZ will be embraced by patients and practitioners around the world in treating diabetic foot ulcers. We look forward to our global sales infrastructure leveraging this innovative product as successfully as our domestic sales representatives have done.
“Acquiring the long-term global rights to this important product further demonstrates our desire and commitment to becoming a world-class advanced wound care organization,” Wolfenson continued. “Pending regional regulatory clearances, we now can sell all our key advanced wound care brands including TCC-EZ, MEDIHONEY®, XTRASORB®, BIOGUARD® and ALGICELL® Ag through all our distributors around the globe. We believe, as we have demonstrated in the U.S., that this comprehensive line of novel products will provide our international sales organizations and distributors with a strong opportunity to take market share from our much larger competitors, helping to continue our sales growth trajectory.”
Proper off-loading, or removal of pressure, is essential for the complete healing of diabetic foot ulcers. Supported by several studies showing an 89.5% heal rate, total contact casts are considered the gold …read more
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