Navigation Links
Indevus Pharmaceuticals Licenses European Rights for VANTAS(R) to Orion Corporation
Date:4/3/2008

Transaction Significantly Expands Global Product Potential

LEXINGTON, Mass., April 3, 2008 /PRNewswire-FirstCall/ -- Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) today announced the signing of a License, Supply and Distribution Agreement with Orion Corporation granting Orion the rights to market VANTAS(R) (histrelin acetate subcutaneous implant) throughout Europe as well as certain other countries. VANTAS is a 12-month implant for the treatment of advanced prostate cancer which was launched in the U.S. in November 2004 and was approved for use in Denmark in 2005 and in the UK in 2007. VANTAS is currently undergoing the mutual recognition procedure for further European approvals. The VANTAS implant utilizes the Indevus patented HYDRON(R) polymer technology.

Under the terms of the agreement, Orion will pay Indevus a $7 million up-front payment and various contingent payments related to approvals and sales thresholds which total up to $14 million. Additionally, Indevus has agreed to supply VANTAS to Orion at a pre-determined transfer price subject to annual minimum purchase requirements beginning in 2009.

"We are extremely pleased to be partnering with Orion for the sales and distribution of VANTAS in Europe," stated Glenn L. Cooper, M.D., chairman and chief executive officer of Indevus. "The European market opportunity for VANTAS is potentially greater than the current U.S. opportunity and having a partner with the capabilities of Orion will enable us to effectively address this market."

Dr. Liisa Hurme, Senior VP heading Orion's Proprietary Products business said, "We are very excited to bring VANTAS to the European market. As the only approved implant for the treatment of advanced prostate cancer, VANTAS is a highly differentiated product and should be a compelling option for patients and physicians."

About VANTAS(R)

VANTAS(R) is a soft and flexible 12-month hydrogel implant that provides histrelin, a luteinizing hormone-releasing hormone (LHRH) agonist, for the palliative treatment of advanced prostate cancer. VANTAS is contraindicated in patients with hypersensitivity to GnRH, GnRH agonist analogs, or any components in VANTAS.

Prescribing Information

Complete prescribing information for VANTAS(R) is available from the Company upon request.

About Prostate Cancer

Prostate cancer is the most common cancer for men and the second leading cause of cancer deaths in men. According to the American Cancer Society, every year approximately 200,000 men in the U.S. are diagnosed with prostate cancer and 30,000 die from this disease. The National Cancer Institute's SEER Program and the National Oncology Database each project that this patient group will grow at an annual rate of 2% to 3% per year through 2008 and beyond. In Europe, prostate cancer is the fourth most commonly diagnosed cancer with an estimated 242,960 men diagnosed in 2006. According to IMS data, the LHRH market in Europe is over $1 Billion.

About Indevus Pharmaceuticals, Inc.

Indevus Pharmaceuticals, Inc. is a specialty pharmaceutical company engaged in the acquisition, development and commercialization of products to treat conditions in urology and endocrinology. The Company's approved products include SANCTURA XR(TM) and SANCTURA(R) for overactive bladder, VANTAS(R) for advanced prostate cancer, SUPPRELIN(R) LA for central precocious puberty, and DELATESTRYL(R) to treat male hypogonadism. The Indevus development pipeline contains multiple compounds within the Company's core therapeutic areas in addition to several partnered or partnerable programs. The most advanced compounds in development include VALSTAR(TM) for bladder cancer, NEBIDO(R) for male hypogonadism, PRO 2000 for the prevention of infection by HIV and other sexually-transmitted pathogens, octreotide for acromegaly, and pagoclone for stuttering.

About Orion Corporation (http://www.orion.fi)

Orion is a European pharmaceutical and diagnostics company which emphasises the development of innovative medicinal treatments and diagnostic tests for global markets. Orion develops, manufactures and markets pharmaceuticals for humans and animals, active pharmaceutical ingredients as well as diagnostic tests. Orion's clientele consists mainly of healthcare service providers and professionals. The Group's net sales in 2007 were EUR 683.6 million and in the end of 2007 there were about 3,170 employees working for the Group. Orion's shares are listed on the OMX Nordic Exchange Helsinki (ORNAV, ORNBV).

Forward-Looking Statements

Except for the descriptions of historical facts contained herein, this press release contains forward-looking statements that involve risks and uncertainties that could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties are set forth in the Company's filings under the Securities Act of 1933 and the Securities Exchange Act of 1934 under "Risk Factors" and elsewhere, and include, but are not limited to: dependence on the success of SANCTURA, SANCTURA XR, NEBIDO, VANTAS and SUPPRELIN LA; effectiveness of our sales force; competition and its effect on pricing, spending, third-party relationships and revenues; dependence on third parties for supplies, particularly for histrelin, manufacturing, marketing, and clinical trials; risks associated with being a manufacturer of some of our products; risks associated with contractual agreements, particularly for the manufacture and co-promotion of SANCTURA and SANCTURA XR and the manufacture of NEBIDO, VANTAS, SUPPRELIN LA and VALSTAR; reliance on intellectual property and having limited patents and proprietary rights; dependence on market exclusivity, changes in reimbursement policies and/or rates for SANCTURA, SANCTURA XR, VANTAS, SUPPRELIN LA, DELATESTRYL and any future products; acceptance by the healthcare community of our approved products and product candidates; uncertainties relating to clinical trials, regulatory approval and commercialization of our products, particularly SANCTURA XR, NEBIDO, and VALSTAR; product liability and insurance uncertainties; risks relating to the Redux-related litigation; need for additional funds and corporate partners, including for the development of our products; history of operating losses and expectation of future losses; uncertainties relating to controls over financial reporting; difficulties in managing our growth; valuation of our Common Stock; risks related to repayment of debts; risks related to increased leverage; general worldwide economic conditions and related uncertainties; and other risks. Indevus undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact:

Michael W. Rogers Brooke D. Wagner

Executive Vice President and CFO VP, Corp. Communications

(781) 861-8444 (781) 402-3410


'/>"/>
SOURCE Indevus Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Indevus Pharmaceuticals Announces Retirement Plans For Its CEO and Chairman
2. Indevus To Announce First Quarter Fiscal 2008 Financial Results On Thursday, February 7, 2008
3. Indevus Pharmaceuticals To Present at RBC Capital Markets Conference
4. FDA Accepts New Drug Application for NEBIDO(R) Submitted by Indevus
5. Indevus Pharmaceuticals to Present at Upcoming Investor Conferences
6. ISTA Pharmaceuticals Engages Cowen as Financial Advisor
7. Alseres Pharmaceuticals, Inc. Complies With NASDAQ Rule Regarding Recently Filed 10-K
8. Barr Pharmaceuticals, Inc. Executive Bios
9. Biotest Pharmaceuticals Corporation Responds to Orphan Drug Act Announcement
10. AUDIO from Medialink and Solvay Pharmaceuticals: Men with Type 2 Diabetes at Increased Risk for Low Testosterone Should Talk to Their Doctors
11. MAP Pharmaceuticals Appoints H. Ward Wolff to Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/2/2016)... ... May 02, 2016 , ... As directed by its board of ... issues its full support to allow certified nurse practitioners (CNP) to practice to the ... worked under such supervision for three years and 3,600 hours. , In addition, HAP ...
(Date:5/2/2016)... ... 02, 2016 , ... Amica Life Insurance Company has unveiled ... throughout various life stages. , The site launched on April 1, and it ... specific to the times when life insurance matters most. , “Through our research, ...
(Date:5/2/2016)... ... ... Dr. Philip Shindler, dentist in Agoura Hills , now offers E4D ... necessary dental treatments could require multiple appointments to complete. This could mean taking time ... Not only could this be inconvenient, but it could also be overwhelmingly unpleasant for ...
(Date:5/2/2016)... ... May 02, 2016 , ... Further establishing itself as a leader in natural ... Variety Value Boxes were selected from over 1,000 entrants as a winner and recipient ... natural dental chews for dogs are a favorite product among pet-parents worldwide, as each ...
(Date:5/2/2016)... NEW PORT RICHEY, Fla. (PRWEB) , ... ... ... Pharmacology experts and medical researchers report that many commonly used prescription medications, ... memory loss (1). To mitigate these risks, Novus Medical Detox Center ...
Breaking Medicine News(10 mins):
(Date:4/28/2016)... April 28, 2016 TapImmune,Inc. ... innovative peptide and gene-based immunotherapeutics and vaccines for the treatment ... presenting at the 3rd Annual Growth Capital Expo ... , 2016 at Caesars Palace in Las Vegas, Nevada.  ... Wednesday, May 4 th by Dr. John N. ...
(Date:4/27/2016)... PARIS , le 27 Avril 2016 /PRNewswire/ ... chiffre d,affaires a progressé de +5% sur le ... ventes récurrentes de consommables  Croissance de ... Mauna Kea Technologies (Euronext : ... multidisciplinaire d,endomicroscopie confocale laser, annonce aujourd,hui son chiffre ...
(Date:4/27/2016)... 27, 2016   Zillion Group today ... technology platform, which specializes in live video consultation. ... digital products, Zillion enables companies to realize the ... to take control of their health. ... – including one-to-one, group and webcast scheduled or ...
Breaking Medicine Technology: