UPPSALA, Sweden, March 9, 2004 (PRIMEZONE) -- Q-Med's product DUROLANE has obtained a CE-mark for the treatment of osteoarthritis of the hip joint, which means that it for this indication as well, can be sold and marketed in Europe.
DUROLANE has been approved in Europe since 2001 for the treatment of osteoarthritis of the knee joint.
"This approval provides us with an excellent opportunity to market DUROLANE to orthopedists. Hip injections are more complicated to perform and therefore DUROLANE is particularly well-suited for this form of treatment as it only requires one injection per course of treatment," says Bengt Agerup, President and CEO of Q-Med.
There are a number of approved products on the European market for the treatment of osteoarthritis of the knee joint. DUROLANE is the only hyaluronic acid product administrated as a single injection per course of treatment, to diminish pain and improve mobility in patients suffering from osteoarthritis of the knee or hip.
"Between three and six percent of the world's population suffer from pain and lack of mobility in the hip due to osteoarthritis. Now that the area of use has been broadened from knees to hips, we can help these patients and we think that the business opportunities for DUROLANE will further increase," concludes Agerup.
DUROLANE is based on Q-Med's patented NASHA technology (Non-Animal Stabilized Hyaluronic Acid). The stabilized NASHA allows DUROLANE to stay in place in the joint longer than is the case when other hyaluronic acid is used.
Queries should be addressed to:
Bengt Agerup, President and CEO, Ph:+46(0)70-974 90 25. Fredrik Hallstan, Manager, Investor Relations and Corporate Communications, Ph:+46(0)70-974 90 15.
Note: Q-Med AB operates under the name of Q-Med Scandinavia, Inc. in the USA.
Q-Med is a rapidly growing and profitable biotechnology/medical device company that develops, produces and markets medical implants. All products are based on the company's patented technology for the production of NASHA -- Non-Animal Stabilized Hyaluronic Acid. The products RESTYLANE, RESTYLANE Touch and RESTYLANE Perlane are used for the filling out of lips and facial wrinkles. RESTYLANE is approved for sales in USA. DUROLANE, Q-Med's product for the treatment of osteoarthritis of the knee joint, has been approved in Europe since May 2001. DEFLUX is a product which has been approved in Europe and the USA for the treatment of vesicoureteral reflux (malformation of the urinary bladder) in children. ZUIDEX for the treatment of stress urinary incontinence in women has been sold in Europe since July 2002. Since July Q-Med today has 450 employees, with approximately 300 at the company's production facility and head office in Uppsala. The Q-Med share was first listed on the O-list of the Stockholm Stock Exchange in December 1999.
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