DGAP-News: PAION REPORTING SOLID PROGRESS IN COMMERCIAL ACTIVITY IN EUROPE | News

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PAION IS REPORTING ROBUST PROGRESS IN COMMERCIAL ACTIVITIES IN EUROPE

06/24/2022 / 09:06
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PAION IS REPORTING ROBUST PROGRESS IN COMMERCIAL ACTIVITIES IN EUROPE

– Market launch in the UK, the Netherlands and Scandinavia is progressing well, including customers’ drug listings

– Positive customer feedback after the first experiences with PAION products

Aachen, June 24, 2022 – Specialist pharmaceutical company PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard: PA8) today announced good progress with the introduction of remimazolam (Byfavo®), eravacycline (XERAVA®) and angiotensin II (GIAPREZA®) in Europe, including adding products to customers’ drug lists.

As we are still in the early stage of commercialization, our focus is on getting our products on the list of suitable providers, and our team is making great strides in this regard. Importantly, we received positive feedback from customers about their initial experiences with our products, in particular with Remimazolam. This is reflected in the strong prices and returns we have achieved so far ” said Dr. Jim Phillips, CEO of PAION AG. Our experience so far this year has been very encouraging for the future and we look forward to our regular updates reflecting these operational advances in increasing sales. ”

PAION has established its commercial presence in Great Britain, the Netherlands and Scandinavia with experienced and motivated teams that visit customers on site. Although the sales force is focused on Remimazolam, a sedative / anesthetic and is expected to be PAION’s largest product, early signs of demand for Angiotensin II, a vasoconstrictor, are also emerging in Germany. In addition, the company said Remimazolam prices and refunds are above the initial targets and that the average net selling price of Remimazolam is approximately EUR 19 per 20 mg, which is on top of PAION’s price expectations.

In Great Britain, the company cooperates with Clinigen in the supply of PAION products. With the first successful listing of Remimazolam at National Health Service (NHS) Trust hospitals, PAION expects the acceptance of its products in the UK to continue to increase steadily in the future.

In Scandinavia, Denmark acts as a commercial center and activities are currently focused on remimazolam. Reimbursement discussions with the Danish Medicines Council (DMC) have now been completed. As purchasing and price decisions are not made at the national level, PAION has more freedom in other Scandinavian countries. The market launch in Denmark started in the fourth quarter of 2021; implementation in other countries of the region is ongoing.

All three products are now listed and available in the Netherlands. The PAION sales team is expanding the original target group of anesthesiologists to include gastroenterologists and therefore expects strong synergies and very effective use of the sales team by introducing several products to the market.

In Germany, only angiotensin II is currently available for hospitals, and PAION expects the successful conclusion of reimbursement talks and contracts with insurers in July 2022.

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ABOUT PAION
PAION AG is a publicly traded specialist pharmaceutical company with innovative active ingredients for use in outpatient and inpatient sedation, anesthesiology and intensive care. The main PAION compound is remimazolam, an intravenously administered, ultra-short-acting and well-controlled benzodiazepine sedative and anesthetic. PAION has stopped selling Remimazolam (Byfavo®) introduced to selected European markets. Remimazolam is a partner in several markets outside of Europe. Remimazolam is approved for operative sedation in the US, EU / EEA / UK, China and South Korea, and for general anesthesia in Japan and South Korea.

Moreover, PAION sells two products for intensive care in selected European countries: Angiotensin II (GIAPREZA®), a vasoconstrictor used to treat treatment-resistant hypotension in adults with septic or other distributive shock, and eravacycline (XERAVA®), a new fluorocycline antibiotic for the treatment of complicated intra-abdominal infections in adults.

PAION’s mission is to be a leading specialist pharmaceutical company in the field of anesthesiology and intensive care by introducing innovative products to the market for the benefit of patients, doctors and other healthcare stakeholders.

PAION is based in Aachen.

Contact to PAION:
Ralph Penner
Wiceprezes ds. Investors Relations / Public Relations
PAION AG
Heussstraße 25
52078 Aachen
Telephone +49 241 4453-152
Email r.penner@paion.com
www.paion.com

Reservation:
This publication contains certain forward-looking statements regarding PAION AG. They reflect the best estimates and assumptions made by the management of PAION AG as at the date of publication and are associated with certain risk, uncertainty and other factors. If the conditions on which the company’s assumptions are based change, this may lead to actual results and measures being significantly different from implied or expressly expected results and measures. Given these risks, uncertainties and other factors, recipients of this information should not overly rely on these forward-looking statements. PAION AG is under no obligation to update or update such forward-looking statements to reflect future events or developments.

24.06.2022 Publication of Corporate News / Financial News broadcast by DGAP – EQS Group AG website.
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