Centaur Pharmaceuticals Pvt Ltd increases sales with Woxheal® - ongoing open label marketing study in numerous Indian centres
Darmstadt, 2nd February, 2023 - The Management Board of bioXXmed AG and Centaur Pharmaceuticals created a new basis for future cooperation between the two companies during a visit of Centaur in Mumbai.
Centaur has increased sales since launching Woxheal® in FY 2020/2021 by 210% in FY 2021/2022 and by 84% in the first 9 months of FY 2022/2023. Local sales of approximately more than 600,000 are planned for FY 2023/2024. To date, around 1000 patients have been treated with the product.
In India there is no statutory health insurance, with the exception of care for the poorest in very price-sensitive state hospitals. Each patient has to pay for healthcare costs themselves. Although the market appears very large with approximately 70 M diabetics, most patients live in rural areas, are difficult to reach medically and rarely have sufficient financial resources.
New care concepts are currently being developed in which preventive and curative care is being improved. Centaur's field service is currently focused on metropolitan areas and the largest cities in India.
There is a large network of Key Opinion Leaders who believe in Woxheal®. Centaur is behind Woxheal® with considerable advertising resources, so that the company expects a steady increase in sales in the medium term.
In the areas of medical development, marketing and production, the cooperation between Dermatools Biotech GmbH, bioXXmed and Centaur will be intensified.
Centaur submitted an application for approval of Woxheal in Kenya last year. Approval is expected two years after application.
The board is convinced that despite the slow but steady market penetration in India, the product will continue to gain commercial importance.
About bioXXmed AG
bioXXmed AG is an investment company that holds 66.96% in DermaTools Biotech GmbH and 49.96% in CytoPharma GmbH.
This release may contain forward-looking statements. Such forward-looking statements reflect the opinion of bioXXmed as of the date of this release based on certain assumptions and expectations. True future developments and the results actually achieved by bioXXmed may differ significantly from the forward-looking statements. bioXXmed undertakes no obligation to update or revise any forward-looking statements.
Dr. Bruno Rosen
Tel.: +49-6151 951 581 2
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