NEW YORK, Oct. 30, 2015 (GLOBE NEWSWIRE) -- Oasmia Pharmaceutical AB (NASDAQ:OASM) - a developer of a new generation of drugs within human and veterinary oncology, announced today that it its distribution partner in Russia and the Commonwealth of Independent States, CIS, Pharmasyntez, has placed its second order for Paclical, Oasmia's lead cancer product for an end user sale value of $7.5 million. The announcement comes on the heels of the first order to the Russia market for $1.5 million in end-user value, totaling an end-user sales value of over $9 million USD in commercial orders within one week.
"We are thrilled that Paclical has been so well received in Russia and CIS," said Julian Aleksov, Executive Chairman of Oasmia. "These positive initial orders are a reflection of the market's confidence in the product. We are confident in imminent sales growth as the product continues to garner interest for its ability to enable higher doses, shorten infusion time, eliminate the need for pre-medication and improve the safety profile for patients compared to the available standard treatments."
About Oasmia Pharmaceutical AB
Oasmia Pharmaceutical AB develops new generations of drugs in the field of human and veterinary oncology. The company's product development aims to create and manufacture novel nanoparticle formulations and drug-delivery systems based on well-established cytostatics which, in comparison with current alternatives, show improved properties, reduced side-effects, and expanded applications. The company's product development is based on its proprietary in-house research and company patents. Oasmia is listed on NASDAQ Stockholm (OASM:SE), the Frankfurt Stock Exchange (OMAX:GR, ISIN SE0000722365) and on NASDAQ US (OASM:US).
The company was founded in 1997 and is now one of the ten biggest pharmaceutical companies in Russia. Pharmasyntez specializes in drugs against tuberculosis, but also manufactures antibiotics and solutions for infusions. Furthermore, the company cooperates with a number of leading institutes and universities in Russia.
Paclical is a water-soluble formulation of paclitaxel and Oasmias patented excipient, XR-17. Paclitaxel is one of the most widely used anti-cancer substances and is included in the standard treatment of a variety of cancers such as lung cancer, breast cancer and ovarian cancer. Paclical(r) consists of a freeze dried powder dissolved in conventional solution for infusion. In April 2015, Paclical received a marketing authorization for treatment of ovarian cancer in the Russian Federation.
Julian Aleksov, Executive Chairman,
Tel: +46 18 50 54 40
Anders Lundin, Chief Financial Officer
Mobile: +46 70 20 96 300
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Source: Oasmia Pharmaceutical