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MedImmune To Buy Aviron For $1.3 Billion.(Brief Article)
2001 DEC 26 - (NewsRx.com & NewsRx.net) -- MedImmune, Inc., (MEDI) is paying about $1.3 billion in stock to acquire Aviron, the maker of a promising nasal-spray flu vaccine now awaiting government approval.
Mountain View, California-based Aviron has developed FluMist, a vaccine that is sprayed into the nose instead of injected by needle, the current vaccination method. Aviron hopes the U.S. Food and Drug Administration will approve FluMist next year in time for flu season.
Aviron had hoped to be selling the vaccine by now, but an FDA committee said in July 2001 it was concerned that FluMist uses live influenza virus and could pose a risk to children. The committee asked for more data, which will be provided by the end of the year, MedImmune CEO David Mott said.
The FDA committee did say the vaccine is effective and eventually could be made safe for Americans to use, prompting expectations of approval.
Once approved, Mott said he expects the vaccination to generate $1 billion in annual sales. Mott ...
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