Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) announced the commercial availability of chronic immune thrombocytopenia (ITP) treatment TAVLESSE (fostamatinib disodium) in Europe.
The announcement which came on Thursday revealed that TAVLESSE is now available for sale in the United Kingdom. The company also announced that the treatment would be marketed and distributed by Grifols S.A., which is Rigel Pharmaceuticals’ partner in the European market. The recent launch will ensure the treatment’s availability in the UK and Germany, which are both major pharmaceutical products.
TAVLESSE was developed as an oral spleen tyrosine kinase (SYK) inhibitor that prevents the destruction of platelets, causing the ITP autoimmune disease. The European Commission approved TAVLESSE as a treatment for ITP in January 2020. The approval means that it can be used to treat adult patients who suffer from the illness, especially those whose condition appears to be resistant to other treatments. The same treatment is also sold in the U.S under the brand name TAVALISSE.
“The launch of TAVLESSE in Germany and the United Kingdom is an important step in making our product available to ITP patients across Europe,” stated Paul Rodriguez, the CEO of Rigel Pharmaceuticals.
Europe is a key target market not only because it hosts some of the top pharmaceutical markets such as Germany, France, and the UK, among others. It is also because the continent has a high population of patients that suffer from ITP. The Rigel Pharmaceuticals CEO also noted that ITP’s market outside the U.S is valued at $900 million. The European market represents half of that valuation. The launch of TAVLESSE will thus benefit ITP patients in Europe while also providing revenue growth opportunities.
Grifols S.A is based in Spain, and it will play a key role in the distribution of treatment across Europe. It also happens to be among the top producers of plasma-derived treatments that target rare and chronic illnesses. The company has a lot of experience with treatments that target hematological disorders, including ITP, for which it manufactures intravenous immunoglobulin (IVIG). This is why it is the ideal partner for Rigel in Europe.