Baxter Announces Long-Term Partnership in Brazil to Expand Access to Recombinant FVIII Hemophilia Treatment
DEERFIELD, Ill., USA, November 1, 2012 - Baxter International Inc. (NYSE:BAX) today announced an exclusive 20-year partnership with Hemobrás (Empresa Brasileira de Hemoderivados e Biotechnologia) to provide hemophilia patients in Brazil greater access to recombinant factor VIII (rFVIII) therapy for the treatment of hemophilia A. Hemophilia A is a genetic condition in which the body does not produce enough clotting protein factor VIII. It is estimated that more than 10,000 people in Brazil are living with hemophilia A, and today the vast majority are treated with plasma-derived FVIII therapy.1
Baxter recently highlighted the importance of developing innovative business models, including public and private partnerships, aimed at improving the quality of and access to care in both developed and emerging markets.
"Our unique collaboration with Hemobrás is a demonstration of Baxter's leadership in hemophilia, reflects our expertise and commitment to the community, and positions us as an attractive partner that can make a significant impact on expanding access to quality care to patients around the world," said Robert L. Parkinson, Jr., Baxter chairman and chief executive officer. "This agreement establishes Baxter as the provider of choice in Brazil and builds upon Baxter's long-standing presence in this large and growing market."
Through this innovative partnership, Baxter will be the exclusive provider of Brazil's recombinant FVIII treatment over the next 10 years while the companies work together on the technology transfer to support development of local manufacturing capacity by Hemobrás. Baxter will receive cash payments for product it supplies to Hemobrás and, following completion of the technology transfer, royalties on recombinant FVIII produced by Hemobrás. The company expects peak annual sales to exceed $200 million.
Hemobrás is a public company dedicated to creating greater autonomy for the production of life-saving therapies for people in Brazil with hemophilia, primary immunodeficiency disease, cirrhosis, severe burns, cancer and AIDS.
About Baxter International Inc.
Baxter has more than 60 years experience in hemophilia and introduced a number of therapeutic firsts for hemophilia patients. The company has the broadest portfolio of hemophilia treatments in the industry, supporting individual therapy choices and providing a range of options at each treatment stage. Baxter is focused on optimizing hemophilia care and improving the lives of people living with hemophilia A and B worldwide.
Baxter has been offering plasma-derived FVIII treatments to hemophilia patients in Brazil since 1979, and recombinant therapy since 1998.
Baxter International Inc., through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
This release includes forward-looking statements concerning a partnership between Baxter and Hemobrás, including expectations regarding the production and sale of rFVIII in Brazil and the financial impact of the partnership on Baxter. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: actions of regulatory bodies and other governmental authorities, including the Brazilian government; changes in laws and regulations; product quality or patient safety issues; and other risks identified in Baxter's most recent filing on Form 10-K and other SEC filings, all of which are available on its website. Baxter does not undertake to update its forward-looking statements.
1Federação Brasileira de Hemofilia. Accessed on: 10 March 2011. Available at: http://www.hemofiliabrasil.org.br