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Pronova BioPharma ASA (OSL:PRON) 16 September 2008, Lysaker, Norway: Pronova BioPharma ASA (OSE: PRON.OL) will give a presentation at the UBS Global Life Sciences Conference in New York 23 September. The presentation will be available as webcast.
Pronova BioPharma has been invited to give a presentation of the company at the UBS Global Life Sciences Conference taking place September 22-25, 2008 in New York City. CEO Tomas Settevik will present at 23 September 12:30 EDT. The presentation will be available live as audio webcast, and the presentation material can be downloaded on www.pronova.com. The replay version of the webcast will be available on www.ibb.ubs.com from 15:30 EDT. For further information, please contact: Hilde H Steineger, Head of IR +47 48 00 42 40 About Pronova BioPharma Pronova BioPharma is a global leader in the research, development and manufacture of marine-originated omega-3 derived pharmaceutical products. Pronova BioPharma's first commercialised product is branded as Omacor® in a number of countries throughout Europe and Asia and as Lovaza(TM) in the United States of America. The product is manufactured at the company's plant in Sandefjord, Norway using a unique and complex process. An additional manufacturing plant is under construction in Kalundborg, Denmark and is expected to be operational in first quarter 2010.
Omacor/Lovaza is the first and only EU- and FDA-approved omega-3 derived prescription drug. The drug is prescribed as an adjunct to diet for the treatment of elevated levels of triglycerides in humans, a condition known as hypertriglyceridemia (HTG), a form of dyslipidemia (or disorder of lipid metabolism). Very high triglycerides have been linked to a number of cardiovascular diseases. Omacor is also approved in key European and certain Asian markets for the secondary prevention of post-myocardial infarction, or Post-MI, the period following the initial survival of a heart attack.
Omacor/Lovaza has been demonstrated in a number of clinical trials to be a potent triglyceride-lowering agent as a monotherapy. It has been documented to be efficacious, safe, and highly complementary to other lipid-lowering agents, such as statins, and can be used in concomitant treatment for mixed dyslipidemia. In addition, Pronova BioPharma is involved in various projects to develop Omacor/Lovaza in a number of cardiovascular indications, including as a combination therapy with statins for mixed dyslipidemia which management believe represents a major market opportunity for the company.
Pronova BioPharma's global network of license and distribution partners includes: Reliant Pharmaceuticals (owned by GlaxoSmithKline PLC) (USA), Takeda Pharmaceutical (Japan), Prospa (Italy) and Solvay (UK, Germany and others). The combined sales force from this network focused on the sale of Omacor/Lovaza is approximately 2,650 sales representatives, of which about 1,500 are employed by Reliant Pharmaceuticals in the USA.
Omacor/Lovaza was launched in 2005 in the USA and in major European markets, such as France and Spain. IMS Health reports that global end-user sales of the product have increased from US$144 million in 2005 to US$306 million in 2006 and US$511 million in 2007. The current annual run rate for end-user sales is estimated at US$650 million, and the company estimates that approximately 750,000 patients are currently on a prescription for Omacor/Lovaza.
Pronova BioPharma had revenues of NOK 1,014 million and EBITDA of NOK 503 million in 2007. The company is listed at Oslo Børs. See www.pronova.com for more information.
