Bayer Animal Health Receives Regulatory Approvals To Market Microcyn(R)-Based Vetericyn™ Animal Healthcare Products In China And Taiwan

Main Category: Veterinary
Also Included In: Regulatory Affairs / Drug Approvals
Article Date: 17 Nov 2009 - 23:00 PDT

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Oculus Innovative Sciences, Inc. (NASDAQ:OCLS), a biopharmaceutical company that develops, manufactures and markets a family of products based upon the Microcyn® Technology platform, which is intended to treat chronic and acute wounds, today announced that its development partners, Bayer Animal Health divisions in China and Taiwan, recently secured regulatory approvals in both those countries to develop and market Microcyn-based Vetericyn™ products for their respective animal healthcare markets.

While the regulatory approvals closely coincide in terms of timing, they were separately facilitated; the Chinese review and approval by Bayer (Sichuan) Animal Health Co. Ltd. as the result of a development agreement entered into in June 2008, and the Taiwanese approval by Bayer Taiwan Co. Ltd. as the result of a December 2008 agreement. In both instances, the approvals are for the use of Vetericyn animal healthcare products in both companion and food animals.

Mr. Joey Yu, general manager of animal health division, Bayer Taiwan Co. Ltd., said, "We are very pleased with the relative speed with which we secured regulatory approval for Vetericyn. In our country our pets are treated as part of the family-so the opportunity to introduce Vetericyn, which truly is a major advance in wound care technology for animals, is a major event that our entire animal healthcare team is enthused about."

As provided by the development agreements, Bayer has first right of negotiation to enter into distribution agreements for Oculus' Vetericyn™ animal brands for both China and Taiwan. Those negotiations, in part to determine pricing and minimum purchases, are now underway.

Bruce Thornton, executive vice president of international operations for Oculus, said, "The Bayer Animal Health relationship is critical in expanding Microcyn's impact on animal healthcare worldwide. We believe that successful adoption of the Microcyn Technology in these animal healthcare markets, as well as the rapid commercialization of Vetericyn in the U.S. by Oculus partner V&M Industries, will significantly increase awareness of the Microcyn Technology around the globe. We continue to work with Bayer Animal Health in several territories, including Australia and New Zealand, where we are currently awaiting regulatory approvals."

According to Animal Pharm Reports, the market for animal health and nutrition products in China was worth just over $1.5 billion in 2004 and has grown by more than one-third since 2000. The main reasons for this dynamic growth are the underlying strength of the Chinese economy, and the resultant increases in demand for meat and meat products. This scenario is likely to continue for at least another 10 years, and the growth prospects for the Chinese animal health and nutrition industry are thus excellent. Animal Pharm Reports forecasts that the market will be worth $2.4 billion by 2010.

About Bayer HealthCare

Bayer HealthCare, a subsidiary of Bayer AG, is one of the world's leading innovative companies in the healthcare and medical products industry and is based in Leverkusen, Germany. The company combines the global activities of the animal health, consumer care, diabetes care and pharmaceuticals divisions. The pharmaceuticals business operates under the name Bayer Schering Pharma and as Bayer HealthCare Pharmaceuticals in the United States and Canada. Bayer HealthCare's aim is to discover and manufacture products that will improve human and animal health worldwide. With sales of EUR 956 million (2007), the animal health division is one of the world's leading manufacturers of veterinary drugs. The division produces and markets more than 100 different veterinary drugs and care products for livestock and companion animals.

Source
Oculus Innovative Sciences

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