- New Agreement Provides for Development and Promotion of OraQuick(R) HCV
Test Outside the United States -
KENILWORTH, N.J., and BETHLEHEM, Pa., Feb. 11 /PRNewswire/ -- Schering- Plough Corporation (NYSE: SGP) and OraSure Technologies, Inc. (Nasdaq: OSUR) today announced an agreement to collaborate on the development and promotion of a rapid oral hepatitis C virus (HCV) test utilizing OraSure Technologies' OraQuick(R) technology platform on a worldwide basis outside the United States.
This new agreement expands the existing collaboration announced in January 2007 when the parties signed an agreement to develop and promote a rapid oral HCV test in the U.S. physicians' office markets. OraSure is a leader in oral fluid diagnostics and developer and manufacturer of the OraQuick ADVANCE(R) Rapid HIV-1/2 Antibody Test, the first and only U.S. Food and Drug Administration (FDA) approved rapid oral fluid HIV-1/2 Test. Schering-Plough is a worldwide leader in the discovery and development of novel HCV therapies.
"We are very pleased to announce the expansion of our collaboration with Schering-Plough internationally," said Douglas A. Michels, President and CEO of OraSure Technologies. "Schering-Plough is a recognized leader in HCV therapy and has the capability to promote our rapid HCV test throughout the world. We believe the global market opportunity for a rapid HCV test is significant and this expansion of our collaboration with Schering-Plough should help drive the adoption of this important product around the world."
Under terms of the agreement, Schering-Plough will reimburse OraSure
for certain development costs and will provide payments to OraSure based on
the achievement of certain regulatory
|SOURCE Schering-Plough Corporation|
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