Pendopharm renews distribution agreement with Anika Therapeutics Inc. for Cingal®, Monovisc®, and Orthovisc®

MONTREAL, May 16, 2024 /CNW/ - Pendopharm, a division of Pharmascience Canada ("Pendopharm"), is pleased to announce the renewal of its exclusive distribution agreement with Anika Therapeutics Inc (NASDAQ: ANIK) (Anika) for Cingal^®, Monovisc^® and Orthovisc^® through the end of 2030.

Since 2012, Pendopharm has partnered with Anika, a global joint preservation company providing innovative & high-quality products therapeutic solutions to healthcare professionals and their patients.

"This partnership reinforces our shared commitment in restoring active living for Canadian patients" says Jad Isber, Vice President, and General Manager of Pendopharm. "We will continue to provide quality treatment for patients suffering from musculoskeletal disorders."

"We are delighted at Anika to have agreed a long-term extension to our strong partnership with Pendopharm in Canada," says Cheryl R. Blanchard, Ph.D., President, and CEO of Anika Therapeutics. The continuation of this successful relationship will ensure we continue to bring Cingal^®, our single injection, next generation, non-opioid treatment for OA pain, along with our other leading OA Pain technologies, to patients all over Canada for years to come."

© 2024 Pendopharm, division of Pharmascience Inc. All rights reserved.

ABOUT PENDOPHARM

Pendopharm, division of Pharmascience Inc., is a leading Canadian specialty pharmaceutical company providing patients with innovative medicines that address unmet medical needs. Its areas of focus are gastroenterology, sports medicine & orthopedics, neurology and cardiology. Pendopharm has extensive experience and knowledge to successfully manage its growing product portfolio.

Additional information: www.pendopharm.com

ABOUT PHARMASCIENCE INC.

Founded in 1983, Pharmascience Inc. is the largest pharmaceutical employer in Quebec with 1,500 employees proudly headquartered in Montreal. Pharmascience Inc. is a full-service privately owned pharmaceutical company with strong roots in Canada and a growing global reach with product distribution in over 50 countries. Ranked 52nd among Canada's top 100 Research & Development (R&D) investors in 2023, with 40-50 million dollars invested each year, Pharmascience Inc. is among the largest drug manufacturers in Canada.

ABOUT ANIKA

Anika Therapeutics, Inc. (NASDAQ: ANIK), is a global joint preservation company that creates and delivers meaningful advancements in early intervention orthopedic care. Leveraging our core expertise in hyaluronic acid and implant solutions, we partner with clinicians to provide minimally invasive products that restore active living for people around the world. Our focus is on high opportunity spaces within orthopedics, including Osteoarthritis Pain Management, Regenerative Solutions, Sports Medicine and Arthrosurface Joint Solutions, and our products are efficiently delivered in key sites of care, including ambulatory surgery centers. Anika's global operations are headquartered outside of Boston, Massachusetts. For more information about Anika, please visit www.anika.com.

SOURCE Pendopharm

For media inquiries, please contact [email protected]