Firebrick Pharma (ASX:FRE) removed a competitor product to its Nasodine nasal spray from the Singapore market for a violation of its patent, according to a Tuesday filing with the Australian bourse.
The firm said it became aware that Medzolution, a company in Singapore, was offering a nasal spray containing povidone-iodine for sale online. It considers the promotion and sale of this nasal spray an infringement of its Singapore patent, which covers the use of a povidone-iodine nasal spray as a treatment and preventative for the common cold.
The firm received a signed undertaking from Medzolution acknowledging the validity of its patent and Medzolution will withdraw its nasal spray from the market as well as stop all marketing and advertising of the product in Singapore.
Medzolution will also deliver the full stock of the nasal spray in its possession to Firebrick's legal representatives in Singapore.
Medzolution also consented to an injunction against its actions in case of a breach of the undertaking and it will indemnify Firebrick against any legal costs involved in Firebrick's enforcing the undertaking.
The firm is in the process of launching Nasodine in Singapore through an exclusive arrangement with the Guardian pharmacy group, its Executive Chairman, Peter Molloy said.
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