SASKATOON, May 23 /CNW/ - Fytokem Products Inc. (Fytokem) today announces
its intention to enter into an exclusive marketing agreement with an Indian
based pharmaceutical manufacturer, Unimarck Pharma (India) Ltd. (Unimarck).
The agreement, gives Unimarck the exclusive right to use Fytokem's
Tyrostat(TM) and Canadian Willowherb(TM) product lines in the pharmaceutical
market in India. Unimarck will seek approval from the Indian Drug Authority
(IDA) for the use of these products as active ingredients in Unimarck's line
of pharmaceutical products. The first two products to include Fytokem's
actives are expected to be Unimarck's Melanorm(TM) line of skin lighteners and
Clin-3 Gel(TM) for the topical treatment of acne. Both of these products are
currently sold throughout India by prescription only, and will be
re-formulated to include Fytokem's actives. The agreement will be formally
concluded during the week of June 6, 2005. Based on initial investigations by
Fytokem and Unimarck, it is expected that IDA approval of these ingredients as
pharmaceutical actives could take 3 to 6 months. An initial application will
be made shortly to the IDA.
"We are very happy to collaborate with a pharmaceutical partner such as
Unimarck, who share our enthusiasm for the use of natural products as
pharmaceutical actives," said Art Hesje, President and CEO of Fytokem.
"Unimarck's understanding of the Indian market and their enthusiasm to obtain
IDA approval for our actives is very exciting. India will be the first market
to accept our products for use as claimable active ingredients in
pharmaceutical preparations. Incorporating our ingredients into Unimarck's
existing products will give us a head-start in this market. Skin lightening
and the treatment of acne are both major market sectors throughout Asia. I
expect this will lead to further opportunities in this market."
About Unimarck Pharma (India) Ltd.
Unimarck Pharma (India) Ltd. is a member of the Indian Drug Manufacturers
Association. Established in 1984, Unimarck manufactures a wide range of
pharmaceutical products in tablet, capsules, syrup, injectables, topical
creams and gel form, at its ultra modern WHO/GMP certified unit at Baddi in
Himachal Pradesh, India.
About Fytokem Products Inc.
Fytokem Products Inc. develops and delivers proven natural ingredients to
leading formulators in the personal care, nutraceutical and pharmaceutical
industries. The Company has been issued patents for technology related to two
of its products and has other patent applications pending.