Hemispherx BioPharma, Inc (NYSEMKT:HEB) has announced that it has received approval to sell its new drug known as Rintatolimod in the Argentine Republic.
The company has confirmed that it has received approval for its New Drug Application (NDA). The approval came from a regulatory body known as the Administracion Nacional de Medicamentos, Alimentos y Tecnologia Medica (ANMAT). Rintatolimod is a drug designed to treat chronic fatigue syndrome or myalgic encephalomyelitis. GP Pharm will market the treatment in Latin America as Hemispherx’s official partner. Hemispherx Biopharma stated that it has a lot o hope for its treatment since it is the first drug to receive regulatory approval for the treatment of chronic fatigue.
The firm released a statement saying that it is not aware of any other similar treatments for the disease in development or pending approval. The firm is, therefore, pleased because it will experience a market monopoly with the drug. It will thus have significant control over pricing since there is no competition as well as access to a wide market which it does not have to share with any other firm. The approval of the treatment was based on two studies namely AMP-516 and AMP-502. The company had also provided CFS and non-CFS studies carried out on more than 800 participants including subjects that suffering from CFS and who had previously been on Ampligen for a period of one year or longer.
Despite the approval of the treatment, the firm is still expected to meet some more requirement before the official launch of the treatment. Hemispherx, however, stated that it is working closely with GP Pharm to make sure that the product is a success and the launch goes as planned. The approval of the drug in Argentina is also expected to open up opportunities for potential commercialization of the treatment in other European countries. The two firms are also working towards the approval of the treatment in more countries but the main focus is on Latin America.
Iddriven Inc (OTCMKTS:IDDR) Partners With Belgium Based Tech Consulting Firm
Iddriven Inc (OTCMKTS:IDDR) has announced that it has reached a partnership with a Belgium based tech consulting firm, Tobania. The company’s news release pointed out that Tobania already has a client list of Fortune 500 companies and expects to raise sales revenue of up to $70 million, for the FY2016. This marks the fourth partnership for Iddriven and the second in Europe. It should be noted here that last month IDDR had partnered with PATECCO, a consulting firm based in Germany.
The company announced that these partnerships would provide IDDR with a firm footing, as it executes its plans for market penetration in the US and EU. It should be noted here that Iddriven also has a wholly owned subsidiary, based in Netherlands, which makes it easier for the company to do business across the continent. IDDR also revealed in the news release that it plans to add more channel partners in the US, in the near future.