Zeltia diversifying its business pharma model to finance R&D pipeline

PharmaMar, biopharmaceutical company which represents the main affiliate of Spanish Grupo Zeltia (ZEL: MC) is diversifying its business model with the intention, according to official statements, “of financing the development of its pipeline of biological products coming from the sea to treat several types of cancer.”

In this sense, says The Pharma Letter’s Spanish correspondent, it is important to note the last announcements they have made during the last weeks, related to new agreements with Spanish GP Pharm, and Japanese Chugai (TYO: 4519, owned 60% by Roche) to buy and sell, respectively, licenses for commercialization of pharmaceuticals products around the world.

With the first of these agreements, PharmaMar bought the license for Politrate (leuproreline), for prostatic cancer, to distribute exclusively in Italy from October. “The goal of this operation is optimizing the commercial structure they have there, taking into account the synergies between the products and our network of sales,” said Luis Mora, general manager of PharmaMar, adding: “We had said before that we are negotiating with other companies to maximize the value of our commercial structures in countries as Italy, and we are going to continue doing the same”.