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Ivax Buys U.S. Marketing Rights to Elan Allergy Drugs By Christopher Elser Miami, Sept. 26 (Bloomberg) -- Ivax Corp. said it will buy the U.S. rights to two allergy treatments, Nasarel and Nasalide, from Elan Corp., Ireland`s biggest drugmaker. Terms of the sale were not disclosed. Miami-based Ivax will market the two nasal steroid drugs through its Wakefield Pharmaceuticals subsidiary, it said in a statement released on the U.K.`s Regulatory News Service. Nasarel is an improved version of Nasalide, and competes with GlaxoSmithKline Plc`s Flonase in a market that may grow to $1.5 billion a year in sales, Ivax said. Ivax salespeople will market the drug, the lowest priced nasal steroid, as it expands its range of respiratory treatments. ``Their efficacy and safety, as shown in multicenter clinical trials and their long history on the market, make us believe that they have major growth potential,`` said Neil Flanzraich, president of Ivax, in a statement. Elan is selling the drugs to concentrate on other diseases, such as oncology and dermatology. Ivax shares rose as much as $1.63, or 9 percent, to $19.83, while Elan shares rose 5 pence, or 0.2 percent to 3,155p in London |
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| aus der Diskussion: | generics |
| Autor (Datum des Eintrages): | southbound (26.09.01 18:53:33) |
| Beitrag: | 20 von 125 (ID:4508059) |
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