Healthcare Industry News: Santarus
News Release - November 3, 2006
Santarus and inVentiv Health Announce Agreement to Add Representatives to Santarus' ZEGERID Sales Team
SAN DIEGO & SOMERSET, N.J.--(HSMN NewsFeed)--Santarus, Inc. (NASDAQ:SNTS ), a specialty pharmaceutical company focused on therapies for gastrointestinal diseases and disorders, today announced that it has selected inVentiv Commercial Services, LLC, a subsidiary of inVentiv Health, Inc. (NASDAQ:VTIV ), to assist in the previously announced expansion plans to add 150 sales representatives to promote ZEGERID® brand products in the U.S. Approximately 140 of the sales representatives will be added through inVentiv, while the remaining sales representatives will be hired directly by Santarus. Santarus expects the new sales representatives to be trained and in place by early 2007.Santarus' sales management will have the opportunity to provide sales direction to the inVentiv sales representatives, who will be detailing ZEGERID Capsules and ZEGERID Powder for Oral Suspension in the first sales call position to gastroenterologists and primary care physicians. Santarus and inVentiv have been working together since August 2004 under an agreement in which inVentiv provides a variety of other sales operations support activities.
"We have developed an excellent working relationship with inVentiv over the last two years and are pleased to extend our relationship with this agreement. inVentiv is a leader in providing a broad range of pharmaceutical services, including contract sales, and has experience detailing multiple products in gastroenterology and primary care. We believe the additional sales representatives will significantly increase our call frequency and share of voice with the 26,000 high-prescribing PPI physicians we currently target," said Gerald T. Proehl, president and chief executive officer of Santarus. "In addition, we expect the larger Santarus and inVentiv sales organization to be more attractive to companies with marketed products seeking to increase their reach in the primary care market."
"We are excited to be supporting the promotion of the ZEGERID family of products into the $13 billion U.S. PPI prescription market given ZEGERID's unique profile," said Terry Herring, president and chief executive officer of inVentiv Commercial. "We believe our competency in this therapeutic area and our commitment to work with Santarus to continue to build the value of the ZEGERID product line bodes well for a successful and prosperous relationship."
About inVentiv Health
inVentiv Health, Inc. is a leading provider of commercialization and complementary services to the global pharmaceutical, life sciences and biotechnology industries. inVentiv delivers its customized clinical, sales, marketing and communications solutions through its three core business segments: inVentiv Clinical, inVentiv Commercial and inVentiv Communications. inVentiv Health currently works with more than 200 unique pharmaceutical, biotech and life sciences clients, including all top 20 global pharmaceutical companies. For more information, visit www.inventivhealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause inVentiv Health's performance to differ materially. Such risks include, without limitation: changes in trends in the pharmaceutical industry or in pharmaceutical outsourcing; inVentiv Health's ability to compete successfully with other services in the market; inVentiv Health's ability to maintain large client contracts or to enter into new contracts; uncertainties related to future incentive payments; and, inVentiv Health's ability to operate successfully in new lines of business. Readers of this press release are referred to documents filed from time to time by inVentiv Health Inc. with the Securities and Exchange Commission for further discussion of these and other factors.
About Santarus
Santarus, Inc. is a specialty pharmaceutical company focused on acquiring, developing and commercializing proprietary products that treat gastrointestinal diseases and disorders and enhance the quality of life for patients. The company currently markets ZEGERID Capsules (launched in late March 2006) and ZEGERID Powder for Oral Suspension. These products are immediate-release formulations of omeprazole, a widely prescribed proton pump inhibitor. More information about Santarus is available on the company's Web site at www.Santarus.com.
Santarus cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Santarus that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in Santarus' business, including, without limitation: inVentiv's performance under its arrangement with Santarus, including its ability to timely recruit and retain additional sales representatives; risks related to the potential for termination of the inVentiv arrangement; Santarus' ability to drive increased market demand for, and generate increased sales of, ZEGERID Capsules, ZEGERID Powder for Oral Suspension and any other products that may be marketed; other difficulties or delays relating to the development, testing, manufacturing and marketing of ZEGERID products; Santarus' ability to obtain additional financing as needed to support its operations; and other risks detailed in Santarus' prior press releases as well as in public periodic filings with the Securities and Exchange Commission.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Santarus undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Santarus® and ZEGERID® are trademarks of Santarus, Inc.
Source: Santarus
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