LONDON (ShareCast) - Allergy Therapeutics has terminated its agreement with Lincoln Medical for the distribution rights of Anapen in a number of countries, following a recall of the drug in the UK.

The pharmaceutical company said Lincoln Medical undertook a voluntary recall of all unexpired units of Apapen, an adrenaline for injection, as a precautionary measure.

It followed a potential problem with delivery time and volume of the dosage of the drug.

Allergy Therapeutics has decided to terminate its agreement with Lincoln Medical after careful consideration.

Manuel Llobet, Chief Executive Officer, said: "The board has decided that terminating the arrangement with Lincoln Medical is in the best interests of the company. Although disappointing to lose a product line, the Anapen contract did deliver a net positive return to the company.

"Diversification into other geographies and product in-licensing opportunities continue to be explored in line with the group's strategy for growth."

Anapen is an autoinjector of epinephrine commonly used by people with severe allergies and a risk of anaphylactic shock because they can be self-administered and are fast-acting.

RD

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