Healthcare Industry News: PTC Therapeutics
News Release - February 2, 2007
Schering-Plough Cites Today's Anacor Agreement as Latest in Series of DealsHighlights Commitment to Building for Long-Term
KENILWORTH, N.J., Feb. 2 (HSMN NewsFeed) -- As recently announced, Schering-Plough Corporation (NYSE: SGP ) has entered into an exclusive, worldwide agreement for the development and commercialization of AN2690, a topical antifungal therapy, with Anacor Pharmaceuticals, a privately held pharmaceutical company. The drug is currently in Phase II clinical trials for onychomycosis, a fungal infection of the nail and nail bed that affects 7 to 10 percent of the U.S. population.
"The addition of AN2690 builds on our growing strength in anti-infective treatment and brings another important innovation into our pipeline of treatments responding to the needs of physicians and their patients," said Fred Hassan, chairman and chief executive officer, Schering-Plough Corporation. "This announcement is another step in our strategy of accessing external innovations that extend our existing areas of strength in R&D and in customer relationships.
"As we advance further in the transformation of Schering-Plough, we are intensifying our focus on business development and licensing," added Hassan. "Our goal is to see approximately half of our pipeline consist of innovations from other companies' labs. Schering-Plough has been executing on this strategy, including recent announcements with OraSure Technologies, ALK-Abello and, today, Anacor."
Highlights from actions executed in 2006 and 2007 include:
* On March 20, 2006, Schering-Plough announced that it entered into an exclusive collaboration and licensing agreement with PTC Therapeutics, Inc. for the development of PTC's preclinical compounds for the oral treatment of hepatitis C virus (HCV) infection and other viral diseases.
* On August 14, 2006, Schering-Plough announced a global collaboration with Novartis AG to develop and commercialize a new combination therapy using a new molecular entity (NME) to treat asthma and chronic obstructive pulmonary disease (COPD). Schering-Plough's once daily inhaled corticosteroid mometasone, the active ingredient in ASMANEX (mometasone furoate) and Novartis' once daily beta2-agonist indacaterol (QAB149) will be combined in a single inhalation device. The combination product, with once-daily dosing, has the potential to offer patient benefits including enhanced disease control and convenience.
* On Oct. 18, 2006, Schering-Plough HealthCare Products, Inc., a subsidiary of Schering-Plough Corporation, entered into an agreement with Santarus, Inc., granting certain exclusive rights to Schering- Plough to commercialize an over-the-counter (OTC) version of ZEGERID (omeprazole/sodium bicarbonate) products for heartburn in the United States and Canada.
* On Dec. 5, 2006, Schering-Plough entered into an exclusive licensing agreement with Braintree Laboratories, Inc. to market MiraLAX (polyethylene glycol 3350), as a non-prescription treatment for occasional constipation.
* On Dec. 13, 2006, Schering-Plough entered into definitive licensing agreements with Valeant Pharmaceuticals International and Metabasis Therapeutics, Inc. for exclusive worldwide development and commercial rights to pradefovir, an investigational oral antiviral compound currently in Phase II clinical development for the treatment of chronic hepatitis B.
* On Jan. 3, 2007, Schering-Plough signed an agreement with ALK-Abello on a strategic alliance to develop and commercialize ALK-Abello's tablet- based allergy immunotherapies in the United States, Canada and Mexico. The agreement gives Schering-Plough exclusive license rights to develop, market and distribute the convenient sublingual (under the tongue) immunotherapies against grass pollen allergy, house dust mite allergy and ragweed allergy.
* On Jan. 4, 2007, Schering-Plough announced an agreement with OraSure Technologies, Inc. to collaborate on the development and promotion of a rapid oral test for the detection of antibodies to the hepatitis C virus utilizing OraSure Technologies' OraQuick® technology platform in the United States.
"These examples illustrate that we are focused on bringing in products that have a strong strategic fit with our current operations," said Hassan. "At the same time, we have the organizational strength and financial headroom to pursue potentially even bigger opportunities that may have a good long-term strategic fit for our growing company."
Schering-Plough is a global science-based health care company with leading prescription, consumer and animal health products. Through internal research and collaborations with partners, Schering-Plough discovers, develops, manufactures and markets advanced drug therapies to meet important medical needs. Schering-Plough's vision is to earn the trust of the physicians, patients and customers served by its more than 32,000 people around the world. The company is based in Kenilworth, N.J., and its Web site is http://www.schering-plough.com.
SCHERING-PLOUGH DISCLOSURE NOTICE: The information in this press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company's plans, its strategy, business prospects and the potential development of and market for certain products. Forward-looking statements relate to expectations or forecasts of future events. Schering- Plough does not assume the obligation to update any forward-looking statement. Many factors could cause actual results to differ materially from Schering- Plough's forward-looking statements, including market forces, economic factors, product availability, patent and other intellectual property protection, current and future branded, generic or over-the-counter competition, the regulatory process, and any developments following regulatory approval, among other uncertainties. For further details about these and other factors that may impact the forward-looking statements, see Schering- Plough's Securities and Exchange Commission filings, including Item 1A. Risk Factors in the Company's second quarter 2006 10-Q.
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