Pharmacosmos expands global reach with launch of Monofer in Japanese market

JAPAN — Pharmacosmos, a pharmaceutical company based in Denmark, has announced the release of its intravenous treatment for iron deficiency anemia, Monofer (ferric derisomaltose), in Japan.

The launch follows the approval for reimbursement by Nippon Shinyaku, the company’s strategic partner, who will take charge of commercialization in the country.

National reimbursement means that the treatment is now covered by Japanese national health insurance, making it more accessible and affordable for patients in Japan.

Monofer, is a ferric derisomaltose injection used to treat iron deficiency anemia in adults who are intolerant or unresponsive to oral iron therapy.

Iron deficiency anemia is a common condition, and it is estimated that around 1.2 billion people worldwide suffer from it.

Japan has a relatively high prevalence of iron deficiency anemia, particularly among women of reproductive age.

The approval of Monofer for national reimbursement in Japan is therefore significant, as it provides a new treatment option for patients in the country who suffer from this condition.

Pharmacosmos has been working on developing iron-carbohydrate-based products for over 30 years, and Monofer is one of their key products.

The company has a strong presence in Europe, and the approval of Monofer for national reimbursement in Japan is an important milestone in their efforts to expand their reach globally.

Tobias Christensen, Pharmacosmos’ CEO, commented on the launch, stating that it is a significant milestone for the company as it allows them to be represented with ferric derisomaltose in the three largest pharmaceutical markets worldwide.

He also mentioned that their product aligns well with the needs of Japanese patients and hospitals, and with the support of their strong partner, Nippon Shinyaku, this opportunity is seen as very promising for Pharmacosmos.

According to market research, the Intravenous (IV) Iron Drugs market in the United States is estimated to be worth US$949.1 million in 2022.

China, the world’s second-largest economy, is expected to see significant growth in this market, with a projected market size of US$658.4 million by 2030, representing a compound annual growth rate (CAGR) of 10.8% from 2022 to 2030.

Japan and Canada are also noteworthy markets in this industry, with a forecasted growth rate of 5.2% and 6.2%, respectively, over the period of 2022 to 2030.

In Europe, Germany is expected to grow at a CAGR of approximately 6.1%. In the Asia-Pacific region, the market is predicted to reach US$550.2 million by 2030, with leading countries such as Australia, India, and South Korea contributing to this growth.

For all the latest healthcare industry news from Africa and the World, subscribe to our NEWSLETTER, and YouTube Channel, follow us on Twitter and LinkedIn, and like us on Facebook.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.