The deal size is €3 million per annum based on an anticipated 20% market share of the €15 million market for this portfolio of oncology products. The announcement was made during this week's Enterprise Ireland trade mission to South Africa, led by the Minister of State for Trade and Development, Jan O'Sullivan TD.
Welcoming the announcement, O'Sullivan said: "EirGen Pharma's success confirms that ambitious, innovative Irish companies are highly regarded for their quality of product and service, innovative capabilities and customer focus. Irish companies are winning more and more business in South Africa, and the potential for continued growth is strong. Enterprise Ireland is working with them in the region to strengthen their business links, develop strategic partnerships and win new business contracts."
"We are delighted to have secured this agreement with one of South Africa's fastest growing pharmaceuticals companies," said Patsy Carney, co-founder of EirGen. "We also see further potential in our partnership in the future as we are currently jointly evaluating four other additional oncology products for potential entry to the South Africa and other markets in the region."
Welcoming the announcement Johann Willemse, CEO of Equity Pharmaceuticals said: "The addition of these niche products to our portfolio is a measure of our confidence in this strategic partnership with EirGen Pharma whereby we combine their product development and manufacturing excellence with our sales and marketing infrastructure in the territory."
"South Africa is recognised as the regional economic powerhouse in Sub-Saharan Africa," said Enterprise Ireland's head of international sales and partnering, Kevin Sherry. "It is a growing market where an increasing number of Irish companies are establishing a foothold and securing sales. This trade mission is about building on that success..."
