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FDA Accepts NDA For Topical Estrogen Replacement Therapy.(Brief Article)

Women's Health Weekly

| October 18, 2001 | COPYRIGHT 2001 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

2001 OCT 18 - (NewsRx.com & NewsRx.net) -- The U.S. Food and Drug Administration (FDA) has accepted for filing Novavax Inc.'s New Drug Application (NDA), submitted on June 29, 2001, for ESTRASORB (17-beta-estradiol) lotion. The acceptance indicates that the FDA has found Novavax's NDA to be sufficiently complete to permit a substantive review.

Under the terms of Novavax's agreement with King Pharmaceuticals Inc. (KG), the company's U.S. copromotion partner for ESTRASORB, Novavax has received a $2.5 million milestone payment from King, due upon the FDA's formal acceptance of the ESTRASORB NDA filing. This milestone is in addition to the $2.5 million received when the NDA was submitted. The company also expects to receive an additional $5 million from King shortly. This represents the remaining portion of the $25 million convertible debenture investment committed in December 2000. The conversion price of the note is $10 per share, which was an 18% premium to the trailing 20-day average stock price prior to the closing in December 2000. Furthermore, King plans to close on an additional $5 million convertible ...

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Source: HighBeam Research, FDA Accepts NDA For Topical Estrogen Replacement Therapy.(Brief...

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