Ypsomed expands sales of its mylife(TM) pen needles in Latin America, the Middle East and North Africa through partnerships with local distributors
Ypsomed expands into Latin America with mylife(TM) Penfine® pen needles
Ypsomed has signed a distribution agreement with the company Innova Technologies of Venezuela, which is part of the established family enterprise DAI Group, with around 130 employees and representations in 18 Latin American countries. Following the necessary registration for each country in Mexico, Colombia and Venezuela, the mylife(TM) Penfine® pen needles from Ypsomed will be marketed by the local partner. In these three countries, with just under 180 million inhabitants, around a third of the total population in Latin and Central America will be reached, and around 40% of all people with diagnosed diabetes in this area.
Expansion with mylife(TM) Diabetescare products is an important milestone for Ypsomed
Richard Fritschi, CEO of Ypsomed, is extremely delighted about the signing of the new distribution agreements: 'Ypsomed has reached an important milestone with the expansion of the distribution network for the mylife(TM) Diabetescare products into Latin America, the Middle East and North Africa. Millions of diabetes patients will now have access to Ypsomed's high-quality mylife(TM) Penfine® pen needles. Furthermore, in the course of 2012 we are planning to start marketing the mylife(TM) OmniPod® Insulin Management System, the world's first patch pump in these countries.'
Entry into the important diabetes markets in the Middle East and North Africa
Diabetes is very widespread in the Middle East, with Saudi Arabia in particular having one of the highest rates of diabetics in the world, at over 17%. Experts from the International Diabetes Federation (IDF) predict that the number of diabetics in the Middle East will double from an estimated 26 million today to over 52 million in 2030, due in part to changes in lifestyle and a lack of exercise. Through the recent conclusion of a distribution agreement with the company Innovative Medical Solutions (IMS), headquartered in Beirut (Lebanon), the mylife(TM) Penfine® pen needles will be marketed via IMS subsidiaries and distributors in Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar, Oman, Jordan, Lebanon and Iraq following the necessary product registration. Ypsomed is thus opening up a market of around 75 million people in the Middle East for its products. With the new distributor Expensimed Sarl., headquartered in Algiers (Algeria), Ypsomed is also expanding its presence in North Africa. Algeria, the second-largest country in Africa in terms of surface area, with around 33 million inhabitants, has a rapidly rising number of diabetics, estimated at 2 to 3 million. In North Africa, Ypsomed is thus actively represented in Egypt, Tunisia, Algeria and Morocco.