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Abbott and Oasmia Pharmaceutical Announce Exclusive Distribution Agreement for Paccal(R) Vet, a New Chemotherapeutic Agent for Dogs
Date:7/10/2009

ABBOTT PARK, Ill. and UPPSALA, Sweden, July 10 /PRNewswire-FirstCall/ -- Abbott (NYSE: ABT) and Oasmia Pharmaceutical have announced a multi-year agreement to market one of the first cancer medications for dogs. The chemotherapeutic agent, called Paccal(R) Vet (micellar paclitaxel), represents the first generation of treatments of its kind and is currently being studied to treat Grade II and Grade III canine mast cell tumors where curative surgery cannot be performed.

Under the terms of the agreement, Abbott will obtain exclusive rights to distribute Paccal Vet for veterinary use in the United States and Canada, and will be responsible for sales and marketing. Oasmia is responsible for clinical development, manufacturing and registration. Financial terms were not disclosed.

Paccal Vet is a new formulation of the active ingredient paclitaxel. Paclitaxel has been used in treating cancer in humans since 1993. Traditional formulations of paclitaxel were insoluble in water, thus requiring the medication to be dissolved in solvents, which led to low tolerability and severe adverse effects in dogs. Paccal Vet uses a novel, non-toxic nanoparticle formulation that overcomes those challenges and provides a high level of water solubility. If approved, Paccal Vet would be one of the first cancer treatments specifically designed for veterinary use.

The move into veterinary oncology adds a new focus area to Abbott's existing Animal Health research and product lines, which include diabetes, anesthesia, wound care, pain management and fluid therapy.

"There are significant unmet needs in this market, which is why Abbott is entering the veterinary oncology arena," said Lynn Bromstedt, divisional vice president and general manager, Abbott Animal Health. "Paccal Vet would be one the first medications of its k
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