LONDON: Diurnal Group plc (AIM: DNL), the specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, has extended its distribution agreement with Er-Kim to include the distribution and marketing of Alkindi® (hydrocortisone granules in capsules for opening) and Efmody® (hydrocortisone modified-release hard capsules) in Greece, Cyprus and Malta.
Under the terms of the agreement, Er-Kim will receive the exclusive rights to distribute and market Alkindi® and Efmody® in Greece, Cyprus and Malta. The Company estimates the combined market opportunity for these three countries to be approximately €7m in paediatric adrenal insufficiency (AI) and adult congenital adrenal hyperplasia (CAH). This latest agreement deepens the Company’s existing relationship with Er-Kim, who also hold the rights to distribute and market Alkindi® and Efmody® in Turkey, Romania and Bulgaria.
Alkindi® is the first licensed preparation of hydrocortisone (the synthetic version of cortisol) specifically designed for use in children suffering from AI, including the related CAH. This distribution agreement further extends the global rollout of Alkindi®, which is already approved in the UK, the European Economic Area, Israel, Australia, Switzerland and the US (where it is known as Alkindi Sprinkle®).
Efmody® is a modified-release preparation of hydrocortisone that has been specifically designed for the treatment of patients with CAH, a rare condition caused by a genetic deficiency of adrenal enzymes. In May 2021, Efmody® was granted marketing authorisation in the European Union and was launched by the Company in Germany, Austria and the UK in September 2021.
In line with the Company’s commercialisation strategy and other global distribution agreements, Diurnal will provide Alkindi® and Efmody® from its established European supply chain for sale by Er-Kim.
Richard Bungay, Interim Chief Executive Officer and Chief Financial Officer of Diurnal, commented: “We are excited to strengthen our partnership with Er-Kim to now include Greece, Cyprus and Malta. Following this latest agreement with Er-Kim, we are pleased that the Company’s commercial footprint now reaches 70% of the European Union population.”
Cem Zorlular, Chairman and Chief Executive Officer of Er-Kim, commented: “We are pleased to expand our collaboration with Diurnal after a year of working relentlessly to execute on our shared vision of addressing unmet rare endocrine conditions in Turkey, Romania and Bulgaria. We are very excited to have the opportunity to now provide market access to much needed paediatric and adult cortisol deficiency treatments in Greece, Malta, Cyprus.”