Pharmaceutical company Advicenne gained nearly 5% on the stock market on Tuesday, following the signature of a new distribution agreement covering Germany, Austria, Switzerland and Greece.

Under the terms of the agreement, Avanzanite of the Netherlands has been granted exclusive marketing rights for Sibnayal in its approved indication in Europe, namely the treatment of distal renal tubular acidosis (dRTA), and in potential new indications

Under the terms of the partnership, Avanzanite will be responsible for conducting pricing and reimbursement negotiations with local regulatory authorities, as well as marketing and sales activities.

Advicenne, which retains the marketing authorization (MA) for Sibnayal in European Union countries, will receive in return the transfer price and royalties on sales of the product.

With this agreement, Advicenne claims to have completed coverage of the five major European countries, either on its own or through partnerships.

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