InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,222.68
(
0.16%
)
US TECH 100
17,650.00
(
0.05%
)
Dow Jones
39,512.84
(
0.32%
)
Brent Oil
82.59
(
0.00%
)
Bitcoin
61,069.11
(
0.45%
)
Post# of 4101
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

KauaiPI

Send PM Follow Ignore
Followers 12
Posts 4191
Boards Moderated 0
Alias Born 01/10/2001

KauaiPI

Member Level

Re: KauaiPI post# 1160

Monday, 03/24/2003 3:25:27 PM

Monday, March 24, 2003 3:25:27 PM

Post# of 4101
ELN in the news..."Elan and Ingenium Announce Major Alliance to Develop Therapeutics for Pain Management

http://biz.yahoo.com/bw/030324/235013_1.html

DUBLIN, Ireland & MUNICH, Germany--(BUSINESS WIRE)--March 24, 2003--Elan Corporation, plc (NYSE: ELN - News; "Elan") and Ingenium Pharmaceuticals AG ("Ingenium") announced today a strategic alliance for the development of novel therapeutics for pain management.

Ingenium brings to the collaboration a broad set of functional genomics technologies, including its novel Deductive Genomics(TM) approach that allows for the rapid identification and cloning of novel molecular targets implicated in molecular mechanisms underlying the control of pain. Elan will screen against the newly discovered and biologically validated drug targets in order to identify and develop novel therapeutics for the treatment of pain. The alliance will allow Elan to continue to build its pipeline in the pain area.

"Today's strategic alliance with Ingenium enhances Elan's position as a company that has a leading position within the field of neurosciences," said President and Chief Executive Officer G. Kelly Martin. "As we restore Elan to financial health, we are committed to building a world-class R&D pipeline. Today's strategic alliance represents further investment in the science of managing pain." Martin continued, "Through this investment and other planned investments in our core business, we are addressing the future growth component of Elan's recovery plan."

"Elan's leadership and innovative research make them the ideal partner for Ingenium's Deductive Genomics(TM) approach to drug discovery," said Michael C. Nehls, M.D., Ph.D., Chief Executive Officer and Chief Scientific Officer of Ingenium. "Ingenium sees this agreement as a validation of the Deductive Genomics technology and its ability to produce novel therapeutic approaches with a high probability of clinical success."

Under the terms of the agreement, Elan and Ingenium will jointly fund a four-year research programme, estimated at $10 million total, leading to the identification of clinical candidates. Ingenium has the potential to earn up to $50 million per product in success-driven milestones. These milestones are contingent on the identification of a clinical candidate, the initiation of human clinical trials, the submission of first NDA/BLA/MAA and the approval of a product in the US, Europe and Asia. Elan will be responsible for global commercialization of products developed, however, Ingenium has the option to maintain co-development and co-commercialization rights on all products developed through the alliance.

ALSO;

(http://biz.yahoo.com/rb/030324/health_eon_2.html)

Eon Version of Elan's Skelaxin Rejected

NEW YORK (Reuters) - Eon Labs Inc. (NasdaqNM:ELAB - News) said on Monday U.S. regulators rejected its study comparing its version of Elan Corp.'s (NYSE:ELN - News) Skelaxin (News - Websites)with the original, delaying Eon's generic version of the muscle relaxant indefinitely.


Shares of Eon fell as much as 13 percent on Monday on Nasdaq, but pared losses later in the day, amid a broader market retreat.

The U.S. Food and Drug Administration (News - Websites) rejected Eon's study as unacceptable after Elan filed a petition with the agency suggesting more stringent measures should be used to judge the effectiveness of generic versions of the medicine.

Eon, based in Laurelton, New York, conducted the study that Elan had recommended to the FDA -- testing the drug in patients who had just eaten -- but the study failed to show the generic version was equivalent to Skelaxin.

--more (in both PRs) is available through the above links--

best!
kp


"When you look at things differently,

things look different"
--Wayne Dyer--


Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up