MONTREAL, QUEBEC--(Marketwired - July 24, 2015) - Knight Therapeutics Inc. (TSX:GUD) ("Knight") a leading Canadian specialty pharmaceutical company, today announced the signing of an exclusive agreement with Akorn, Inc. ("Akorn") of Lake Forest, Ill., for the exclusive distribution of AzaSite® in Canadian markets. Under the terms of the agreement with Akorn, Knight will handle all regulatory and commercial activities for AzaSite® in Canada.
According to IMS Health, the Canadian ophthalmic antibiotic market reached approximately $27 million in sales in 2014. When launched, AzaSite® is expected to be the first ophthalmic azithromycin product to be available in Canada.
"We are excited to work with Akorn to bring a new ophthalmic antibiotic to the market and add a differentiated product to our growing ophthalmology portfolio," said Jonathan Ross Goodman, President and CEO of Knight. "We believe that providing another tool in physicians' armamentarium with a convenient and unique dosing profile is something that will resonate with both patients and physicians."
About AzaSite® and Conjunctivitis
AzaSite® (azithromycin ophthalmic solution) 1% is a prescription sterile eye drop solution indicated for use in adult and pediatric patients aged one year and older for topical treatment of bacterial conjunctivitis. Marketed by Akorn, Inc. in the United States, AzaSite® was approved by the U.S. Food and Drug Administration in 2007.
Commonly known as pink eye, conjunctivitis is an inflammation of the transparent membrane covering the eyelid and part of the eyeball. This inflammation is often caused by a bacterial or viral infection. Conjunctivitis is common in children and is considered to be highly contagious. Common symptoms of conjunctivitis include redness, itching and a gritty feeling in one or both eyes and can be accompanied by a liquid discharge or tearing.
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets. Knight's shares trade on TSX under the symbol GUD. For more information about Knight, please visit the company's web site at www.gud-knight.com or www.sedar.com.
Forward-Looking Statement
This document contains forward-looking statements for Knight and its subsidiaries. These forward looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations are discussed in Knight's Annual Report and in Knight's Annual Information Form for the year ended December 31, 2014. Knight disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.
AzaSite® is a registered trademark of InSite Vision Incorporated.
Contact Information:
Jeffrey Kadanoff, P.Eng., MBA
Chief Financial Officer
514-484-GUD1 (4831)
514-481-4116 (FAX)
info@gud-knight.com
www.gud-knight.com