Invida Forms Unique Partnership With Roche In Korea
Roche's Primary Care Portfolio to be Commercialized through Invida
Seoul, KOREA – February 15, 2011 – Invida Group Pte Ltd, the leading specialty pharmaceutical company focused on the commercialization of healthcare products throughout Asia-Pacific, today announced that it has entered into a partnership agreement with Roche for the commercialization and marketing of that company's primary care portfolio throughout Korea. Through a unique model, both Invida and Roche will benefit from the successful commercialization of these products, while allowing Roche to focus on its specialty care portfolio in Korea.
Under this agreement, Invida will leverage their capabilities to manage all of the marketing and sales activities for Roche's primary care products, including Xenical®, and Roaccutane® as well as products from Roche's CNS portfolio. These include Madopar® for the treatment of Parkinson's disease and Rivotril® for epilepsy and Valium®.
Roche Korea has undertaken a partial reorganization in 2011 as part of the Operational Excellence Program, Roche's recently announced global management initiative. Employees affected by the reorganization have accepted a range of options including a compensation package that fully respects the valued contributions these staff made to the company, as well as newly created positions within both Roche and Invida.
Mark Brown, General Manager, Invida Korea, commented, "We are excited to partner with Roche and provide them with the vital infrastructure to promote these products in the Korean market. In developing our agreement with Roche, we were very conscious of creating an alliance structure that would work within the Korean market and provide outstanding products for patients, while benefitting both companies. Roche's primary care portfolio is one that will benefit greatly from the additional promotion that Invida will invest in it, and allow Roche to focus on developing other core areas of business."
Svend Petersen, General Manager, Roche Korea, commented, "Our partnership with Invida is critical to ensure our success in further penetrating the Korean market. In working with Invida and utilizing their strong infrastructure and proven sales and marketing methodologies, we will be able to gain rapid market access for these products and reach primary care physicians throughout the region. This alliance will support our business goals by allowing us to shift resources and focus on our specialty care portfolio. We plan to continue to bring innovative products into Korea that will meet the needs of Korean patients."
John A.Graham, CEO of Invida, commented, "I am pleased to announce this partnership with Roche, which will enable us to offer high quality pharmaceutical primary care products to patients in this market. This will allow Invida and Roche to leverage both companies' respective strengths to meet the Korean patients' need for high quality pharmaceuticals. For Invida, this agreement will provide a roadmap for structuring future partnerships of this nature in Korea and throughout the Asia-Pacific region."
About Invida Group Pte Ltd
Invida improves the lives of patients in Asia by commercializing differentiated pharmaceutical products of superior quality – the result of which will allow all Invida stakeholders to prosper. This is done through proven brand marketing and sales know-how, strong expertise across a number of key therapeutic categories and deep experience in all critical Asian markets. Comprehensive functional capabilities provide rapid market access delivered by our passionate team of professionals.
With 4,000 employees in 13 markets in Asia-Pacific, Invida operates across the commercial value chain from regulatory approval and product launch to lifecycle management. We manage a portfolio of proprietary healthcare brands as well as licensed products from small biotech firms and large multinational companies. Partnering is a critical component of Invida's business model. We collaborate closely with our partners in developing effective strategies and put our extensive experience behind maximizing the potential of the assets entrusted to us. For more information on Invida, please see www.invida.com.
Headquartered in Basel, Switzerland, Roche is a leader in research-focused healthcare withcombined strengths in pharmaceuticals and diagnostics. Roche is the world's largest biotech company with truly differentiated medicines in oncology, virology, inflammation, metabolism and CNS. Roche is also the world leader in in-vitro diagnostics, tissue-based cancer diagnostics and a pioneer in diabetes management. Roche's personalized healthcare strategy aims at providing medicines and diagnostic tools that enable tangible improvements in the health, quality of life and survival of patients. In 2010, Roche had over 80'000 employees worldwide and invested almost 10 billion Swiss francs in R&D. The Group posted sales of 49.1 billion Swiss francs. Genentech, United States, is a wholly owned member of the Roche Group. Roche has a majority stake in Chugai Pharmaceutical, Japan. For more information: www.roche.com.
About Roche Korea
Roche Korea is a Korean subsidiary of F. Hoffmann-La Roche, a research-focused healthcare company headquartered in Basel, Switzerland. As a research-focused healthcare company, Roche discovers, develops and provides innovative diagnostic and therapeutic products and services that deliver significant benefits to patients and healthcare professionals, from early detection and prevention of disease to diagnosis and treatment.