Scilex Holding Company, a majority-owned subsidiary of Sorrento Therapeutics, Inc., is excited to announce a revolutionary territory distribution agreement for their acclaimed non-opioid pain management product, ZTlido®, in the Middle East and North Africa. CH Trading Group has been appointed exclusive territories distributor and will make the product available across the entire region, as well as the broader Islamic world, with a minimum purchase commitment of $105 million over the period of five years. Scilex is thrilled to have the opportunity to expand their non-opioid pain management portfolio in this region.
Scilex has a great opportunity to bring its innovative non-opioid pain management products to the Middle East and North Africa markets. CH Trading Group is proud to be part of the process to expand access to ZTlido patches and other pain solutions with Scilex in the near future. Sayad Zeyan, CEO of CH Trading Group, is enthusiastic about this commercial opportunity and believes it will make a positive difference in the lives of many.
Pain management is set to become a booming industry, with the global market predicted to reach an eye-watering US$101.27 billion by 2029. This impressive growth can be attributed to a CAGR of 4.3% between 2022-2030, according to the latest report by Precedence Research. This remarkable growth presents a lucrative opportunity for investors in the pain management sector.
Managing the chronic pain associated with postherpetic neuralgia (PHN) can be a difficult and daunting task. ZTlido® is here to help, providing relief from neuropathic pain with its powerful lidocaine topical system. Unlike other lidocaine patches, ZTlido® has been designed to provide improved adhesion and extended relief throughout the day. With ZTlido®, you can get the relief you need to face each day with confidence.
We are delighted to take our partnership with the CH Group to the next level, as it brings us one step closer to introducing our innovative Circle H International halal certified non-opioid pain management medicines to non-US markets. This is a major milestone for Scilex, and we look forward to making these medicines available to more patients in need. Jaisim Shah, Chief Executive Officer and President of Scilex, expressed his enthusiasm for this advancement.
About Scilex Holding Company
Scilex is an innovative and ambitious company with a mission to become a global leader in non-opioid pain management and to create products that maximize quality of life. It has already launched its first commercial product, ZTlido® (lidocaine topical system) 1.8%, and recently in-licensed two more commercial products, Gloperba® (colchicine USP) oral solution and ELYXYB™ (celecoxib oral solution). In March 2022, it announced positive results from its Phase III Pivotal Trial C.L.E.A.R Program for SEMDEXA™, its novel, non-opioid product for the treatment of lumbosacral radicular pain (sciatica). Scilex is now aiming for breakthrough therapy designation and priority review for SEMDEXA™. Additionally, it is currently developing a late-stage pipeline, which includes SP-102 (injectable dexamethasone sodium phosphate viscous gel product containing 10 mg dexamethasone), SP-103 (lidocaine topical system) 5.4%, and SP-104, 4.5 mg Delayed Burst Release Low Dose Naltrexone Hydrochloride
About CH Trading Group
CH Trading Group LLC, part of the CH Group family of companies, is a global conglomerate that connects, develops and promotes a healthy lifestyle from local to global. Our eight economic Sectors – healthcare, pharmaceuticals, food, finance, cosmetics, tourism, fashion and media/entertainment – provide a wide range of multi-national products, services and solutions to people around the world. We strive to bring a wholesome, healthy and productive lifestyle to everyone.
MIRCH Trading specializes in international import/export and trade with a focus on the Organization of Islamic Cooperation (OIC), Middle East and North Africa (MENA), and Gulf Cooperation Council (GCC) Regions. We are committed to meeting the global demand for reliable and secure supply chains by introducing innovative products from the US and building a comprehensive distribution network. With our experience and expertise, we strive to provide only the best services and products to our customers.