Israeli company Se-cure Pharmaceuticals has invested $5 million in setting up a new factory at the Dalton industrial park, where it plans to produce its Femarelle drug, which combines treatment for symptoms of menopause and for osteoporosis.
The company developed Femarelle over nine years, and has carried out two clinical trials. Sales began in 2000, and the company says that average annual sales growth since then has been 37%. It expects to reach $22 million sales revenue by the end of 2005.
Se-cure was founded in 1993 by Ron Gutterman, who is CEO of the company. It employs eighteen people. Up to now, Se-cure has been financed by private investments and by grants from the Office of the Chief Scientist. It is not backed by any venture capital fund. In recent years, its activity was been split between offices in Yavneh and in Hadera, but it has now moved to the new building in Dalton.
The company sells Femarelle in eighteen countries, mainly in Asia and Europe. It recently began selling in the US market, and, according to Gutterman, this will become the company's main market. He points out that Femarelle is the best selling product of its kind in Mexico and Norway.
Published by Globes [online] - www.globes.co.il - on June 16, 2004