Rafarma Pharmaceuticals, Inc. (RAFA) Enters Into New Exclusive Production Contract With JSC F-Synthesis to Produce Anti-Cancer Drug Imatinib
TERBUNY, RUSSIA, Jul 16, 2013 -- Rafarma Pharmaceuticals, Inc. (OTC: RAFA) announces the signing of a new exclusive production agreement with JSC F-Synthesis for the production of the anti-cancer drug Imatinib.
According to Pharmexpert (http://www.pharmexpert.ru/en/), the leader in the Russian market for pharmaceutical business analysis, the market for Imatinib in Russia for the year 2012 amounted to slightly less than $200 million (USD). JSC F-Synthesis sold $30 million (USD) worth of Imatinib in 2012, putting the company in the top three national vendors of Imatinib.
The new production contract between Rafarma and JSC F-Synthesis will both increase production and reduce production costs, which will likely undoubtedly lead to increased sales volume and market share.
Imatinib is an oral agent important in the treatment of chronic myeloid leukemia and gastrointestinal stromal tumors. The drug is a tyrosine-kinase inhibitor used in the treatment of multiple cancers, most notably Philadelphia chromosome-positive (Ph+) chronic myelogenous leukemia (CML). Like all tyrosine-kinase inhibitors, Imatinib prevents the growth of cancer cells and eliminates them by apoptosis. Imatinib works as a form of targeted therapy -- only cancer cells are killed through the drug's action. In this regard, Imatinib was one of the first cancer therapies to show the potential for such targeted action, and is often cited as a paradigm for research in cancer therapeutics.
About JSC F-Synthesis
JSC F-Synthesis is a modern high-tech company located in Moscow region. The company is involved in R&D and manufacturing of active pharmaceutical ingredients and sterile medicines. Modern production facility meets GMP EU standards; cleanliness of production facilities meets ISO 14644 and GOST R 52249-2009 standards. For more information, visit http://www.f-sintez.ru
About Rafarma Pharmaceuticals, Inc.
Operating from a new 270,000 square-foot state-of-the-art manufacturing and distribution facility in Russia, Rafarma Pharmaceuticals produces generic antibiotics and specialty pharmaceuticals in addition to its own line of proprietary products that are approved by the Ministry of Health of Russian Federation. For the last three years, the Russian Government has been highly focused on bolstering the development of nation's domestic pharmaceutical industry. Rafarma Pharmaceuticals' mission is to work with the auspices of aggressive federal initiatives to fast-track the modernization of Russia's pharmaceutical industry.
For more information on Rafarma Pharmaceuticals, visit: http://RAFA.QualityStocks.net
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Rafarma Pharmaceuticals, Inc.
SOURCE: Rafarma Pharmaceuticals, Inc.
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Pharmaceuticals and Biotech:Biotech
Pharmaceuticals and Biotech:Drugs
Pharmaceuticals and Biotech:Trials
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