Sedana Medical enters India – signs Indian distributor
Sedana Medical AB (publ) (SEDANA: FN Stockholm) today announced a distribution agreement with the Indian distributor Hansraj Nayyar Medical. Sales will commence in the fall and a registration process will start in parallel. Hansraj Nayyar has committed to a first framework order of 25,000 euros. The Indian market potential for sedation in intensive care is estimated to be around two million ventilation days annually.
"Hansraj Nayyar is a pioneer in Indian intensive care and it is very gratifying that they will now launch our therapy." said Christer Ahlberg, CEO of Sedana Medical.
Under the agreement, Hansraj Nayyar is expected to order products from Sedana Medical for at least SEK 1 million during the first year of the contract and at least SEK 2 million the following year. Hansray Nayyar will have two people focused on Sedana Medical's therapy and 15 sales representatives will have AnaConDa in their portfolio.
Neither AnaConDa nor IsoConDa have market approval in India but according to current legislation and thanks to the registration in Europe, AnaConDa can be sold during the registration period. Sedana Medical will work closely with Hansraj Nayyar in the registration process. The company's founder and principal owner Chetan Nayyar has an extensive network in Indian intensive care and was one of the initiators of the Indian Society of Critical Care Medicine.
For additional information, please contact:
Christer Ahlberg, CEO, Sedana Medical AB
Mobile: +46 70 675 33 30
Sedana Medical is listed on Nasdaq First North in Stockholm.
The company's Certified Adviser is Erik Penser Bank, +46 8 463 83 00, firstname.lastname@example.org.
This information is such that Sedana Medical AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person above, on August 15th, 2019 at 08.00 a.m. (CET).
About Sedana Medical’s market
Sedana Medical's market consists primarily of sedation of mechanically ventilated intensive care patients. The market for sedation of mechanically ventilated intensive care patients today consists of established drugs that are administered intravenously. There are several challenges for both patients and care givers with today's intravenous treatment that are solved by inhaled sedation. Today, it is estimated that between seven and eight million patients are sedated due to mechanical ventilation in intensive care globally, evenly distributed between the US, Europe and Asia. These patients are sedated on average three to four days. Sedana Medical estimates the total market potential to SEK 20-30 billion.
Sedana Medical AB (publ) has developed and sells the medical device AnaConDa, for the administration of volatile anaesthetics to mechanically ventilated patients. A major clinical registration study is currently ongoing to obtain market approval in Europe for inhalation sedation in intensive care units with the pharmaceutical IsoConDa® (isoflurane).
Sedana Medical has direct sales in the Nordic countries, Germany, France, Great Britain and Spain as well as external distributors in the rest of Europe, Canada, Australia, Japan and South Korea. The company headquarters are based in Stockholm, Sweden with R&D operations in Ireland.