FLINT, MI -- Diplomat Specialty Pharmacy will be the only distributor of a recently approved treatment for thyroid cancer in a deal that could result in more jobs down the road.
The privately owned Diplomat, based in Flint, has signed an agreement with Exelixis Inc. to be the exclusive distributor of Cometriq, which was approved in November by the U.S. Food and Drug Administration for the treatment of “progressive, metastatic medullary thyroid cancer,” according to a press release issued by Diplomat
Simply an addendum to an earlier post to ensure that there is no confusion as to the difference between a distributor and a manufacturer/supplier. This renewed partnership w/ Catalent was published 2 days after the exclusive distributorship with Diplomat Specialty Pharma ws announced. We simply missed it.
Catalent is one of the largest global suppliers of quality pharmaceuticals in the world, with manufacturing facilities in 30 countries worldwide...and they have renewed their partnership with Exelixis to manufacture Cometriq.
Definitely no small potatoes here...
"Somerset, NJ, December 7, 2012 – After a 5 year close partnership with Exelixis during which Catalent has provided analytical, clinical trial supply and manufacturing support for COMETRIQ™ (cabozantinib), Catalent welcomes FDA approval for Exelixis’ novel drug for treatment of progressive, metastatic medullary thyroid cancer (MTC). Catalent will now continue to be the exclusive commercial drug supply partner for the 20mg and 80 mg capsule dose packs in the United States.
“Catalent supports pharmaceutical companies, small and large, to help them accelerate their drug development and bring new treatments to improve patient’s lives.” Said Scott Houlton, President, Development and Clinical Services of Catalent. “We have worked closely with Exelixis over the past several years on COMETRIQ and are delighted to have reached this key milestone.”
“We have been pleased to partner with Catalent over the last 5 years. Catalent has provided high quality service for analytical testing, manufacturing process development and validation. This partnership has truly helped advance this important product for cancer patients,” said JoAnn Wilson, Vice President, Chemical, Manufacturing and Control at Exelixis, Inc."
Would you consider this a forward-looking statement?
"Diplomat could soon expand on that numbers of jobs, because Cometriq is in trials right now to determine how effective it is against other forms of cancer.
If those trials are successful and Diplomat's patient load expands to 20,000 to 30,000 people, then the company would have to expand, said Hagerman, who added obtaining that first exclusive distribution agreement is the toughest to get because of the competition with more experienced companies.
"For us, the initial win is great, and we are going to take great care of people, but for the long term, it could be significant," he said."
EXEL is looking smarter all the time. They are laying the groundwork for huge sales, with fresh motivated people. I smell huge success here. Think of it like Apple when it was just getting going. Laugh now shorts, but talk to me in the future, when I am still holding a huge position here. I think I get the last laugh, all the way to the bank. And the beauty is: EXEL owns CABO 100% and can't be squeezed, and I am exactly the same, own and will increase even more, my position, but can't be squeezed. No margin here.