The firm looks for FDA approval of its product as a "botanical drug".
Sources inform ''Globes'' that Se-cure Pharmaceuticals & Cosmetics Ltd. is negotiating with two leading global pharmaceutical companies on marketing contracts that could be worth hundreds of millions of dollars over the next five years. Initial sales, assuming that contracts are signed, could amount to tens of millions of dollars, and could soar if and when the company's product is registered as a drug treatment, which could take place within a year.
Se-cure has developed a treatment for side-effects of menopause and for the prevention of osteoporosis. The treatment is currently sold as a dietary supplement in several European and Asian countries. Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) is due to begin marketing it in Israel shortly. Sales already total tens of millions of dollars a year. The product is manufactured at the company's factory at Dalton in the Upper Galilee.
Se-cure founder and CEO Ron Gutterman said that the company plans to register its product as a botanical drug under new US Food and Drug Administration (FDA) guidelines.
Published by Globes [online], Israel business news - www.globes-online.com - on November 8, 2007
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