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Hitchin, UK, 30 September 2005 York Pharma, the AIM-listed (AIM:YRK) strategic acquirer, developer and marketer of pharmaceutical products in the field of dermatology, announces the founding of York Pharma KK and the appointment of Toshio Nagae as President of the newly formed Japanese operating company. York Pharma KK will operate out of premises in central Tokyo. Toshio Nagae, 61, a graduate in pharmaceutical chemistry, has over 30 years experience in the Japanese pharmaceutical market. He has direct sales experience gained with Shionogi, and has worked for AstraZeneca (formerly ICI Pharma), Schering-Plough, Rhone-Poulenc Rorer and Aventis. His roles have included sales, product and marketing management, market research and strategic planning. Toshio Nagae has presented at international forums on a wide range of subjects including demographics, socio-economic change, value optimisation of pharmaceutical products and medical practice in Japan. The Japanese dermatology market was valued at US$1.3 billion in the 12 months ending June 2005*. The market for topical antifungals, in which York’s lead product Abasol™ will compete, is estimated at US$195m. Terry Sadler, CEO of York Pharma, said “A large part of the clinical development programme of our lead product, the novel antifungal Abasol™ was undertaken in Japan. The founding of York Pharma KK will enable us to both file for marketing approval in Japan and will provide flexible marketing options for the future. Nagae-san has a breadth and wealth of experience that will be invaluable to building our business in Japan. We are delighted to have him join us in Japan, the world’s second largest pharmaceutical market”. Toshio Nagae, President of York Pharma KK, said “I am very happy to be joining York Pharma KK, and have established an excellent relationship with the York Pharma team. I now look forward to bringing to bear my knowledge and skills gained over many years to help York Pharma build a profitable and successful business in Japan. There are excellent prospects for the York Pharma products in the local dermatological market, reflecting the continued socio-economic changes taking place in Japan such the lowering of the barriers to entry for non-Japanese companies, increasing patient consultations and a demand for innovative and effective new pharmaceutical products”. * As measured by IMS, 12 months to June 2005 --ENDS-- For more information please contact:
Notes to editors: About York Pharma plc York Pharma is an AIM-listed strategic acquirer, developer and marketer of pharmaceutical products in the field of dermatology. Its portfolio now embraces skin diseases that make up more than 70% of the global $10bn dermatology market, and its lead product, Abasol for the treatment of fungal infections of the skin, has been filed for European marketing approval. For further information, please go to www.yorkpharma.com |
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