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COPYRIGHT 2002 PR Newswire Association LLC
King Pharmaceuticals, Inc. announced today the Company's acquisition of the rights to three branded prescription pharmaceutical products from Aventis. The products include the rights in the United States, Puerto Rico, and Canada to Intal(R) (cromolyn sodium) and Tilade(R) (nedocromil sodium), inhaled anti-inflammatory agents for the management of asthma, and worldwide rights, excluding Japan, to Synercid(R) (dalfopristin and quinupristin), an injectable antibiotic indicated for treatment of vancomycin-resistant Enterococcal faecium ("VREF") and treatment of complicated skin and skin structure infections. Total upfront cash consideration paid by King for the three branded pharmaceutical products equals $199.5 million. Net sales of Intal(R) and Tilade(R) in the United States, Puerto Rico, and Canada and net sales of Synercid(R) worldwide totaled approximately $66 million during the twelve months ending September 30, 2002.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010125/KGLOGO )
Jefferson J. Gregory, Chairman and Chief Executive Officer of King, stated, "Our acquisition of the rights to Intal(R), Tilade(R) and Synercid(R) continues the successful execution of King's strategy to selectively acquire rights to exclusive branded prescription pharmaceutical products that we believe should significantly benefit from focused promotion and marketing, and product life-cycle management. With the application of our well-established sales and marketing capabilities, we believe Intal(R) and Tilade(R), in particular, offer excellent opportunities for growth."
Intal(R) and Tilade(R) are non-steroidal anti-inflammatory, non-beta-2 agonist agents for the treatment of asthma. Intal(R) is administered with either an inhaler or a nebulizer and is indicated for the long-term treatment of bronchial asthma in adults and children. Tilade(R) is administered with an inhaler and is indicated for the long-term treatment of bronchial asthma and associated chronic cough in adults. A new Intal(R) inhaler formulation utilizing hydrofluoroalkane ("HFA"), an environmentally friendly propellant, is currently under review by the U.S. Food and Drug Administration ("FDA"). The HFA formulation of Intal(R) is patented in the United States until September 2017. Tilade(R) has a composition of matter patent in the United States until October 2006. In addition to patent protection, the delivery system of the inhaler...
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