Navigation Links
Valeant Grants Schering-Plough Exclusive Option in Japan for Taribavirin in Exchange for Release of Last Right of Refusal
Date:6/1/2009

ALISO VIEJO, Calif., June 1 /PRNewswire-FirstCall/ -- Valeant Pharmaceuticals International (NYSE: VRX) announced today that it has entered into an exclusive option agreement with Schering-Plough (NYSE: SGP) for taribavirin in Japan. In exchange for the exclusive option, Schering-Plough has agreed to waive and release its last right of refusal on taribavirin under a 2000 agreement, providing more flexibility for Valeant to actively pursue partnering arrangements for the rest of the world.

Under the terms of the option agreement, Valeant granted Schering-Plough the option to enter into an exclusive license agreement for the development and commercialization of taribavirin in Japan. Upon exercising the option and entering into the exclusive license agreement, Schering-Plough would provide a $2 million upfront payment to Valeant and pay mid-single digit royalties on net sales of taribavirin in Japan.

Taribavirin, a prodrug of ribavirin, is in Phase II development for the treatment of chronic hepatitis C in conjunction with a pegylated interferon.

"This agreement with Schering-Plough releases our company from the last right of refusal and provides us more flexibility to pursue partnering opportunities with other companies," said J. Michael Pearson, Valeant's chairman and chief executive officer. "With the data we have seen so far from the Phase IIb trial, we believe that taribavirin presents an attractive licensing opportunity."

About Taribavirin

Taribavirin is an investigational compound that has not been approved by the U.S. Food and Drug Administration (FDA) or any other regulatory agency for the diagnosis, mitigation, treatment or cure of any disease or illness. It may not be sold or promoted in the United States unless and until the FDA has approved a New Drug Application. Similar restrictions apply in other countries.

Recent data from the Phase IIb study demonstrates that the 60-week viral response data continues to show comparable reductions in viral load for weight-based doses of taribavirin and ribavirin in a difficult-to-treat population of patients chronically infected with hepatitis C genotype 1. At the end of week 60, a statistically significantly lower anemia rate for patients receiving taribavirin in the 20mg/kg and 25mg/kg arms versus the ribavirin control arm was maintained at a rate similar to that seen at the end of treatment (week 48).

About Valeant

Valeant Pharmaceuticals International (NYSE: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of products primarily in the areas of neurology and dermatology. More information about Valeant can be found at www.valeant.com.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements, including, but not limited to, statements regarding the potential efficacy and safety of taribavirin in the treatment of hepatitis C, and the continuing role of ribavirin or taribavirin in the treatment of hepatitis C. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties related to relating to the clinical development of new products, regulatory approval processes, that interim results from a Phase IIb clinical trial are not necessarily predictive of the entire Phase IIb trial or a Phase III trial, and other risks and uncertainties discussed in the company's most recent annual or quarterly report filed with the SEC, which factors are incorporated herein by reference. These risks are among the factors that could cause actual results to differ materially from the expectations described in the forward-looking statements and undue reliance should not be placed on any of these forward-looking statements. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

    Contact:
    Laurie W. Little
    Valeant Pharmaceuticals
    949-461-6002
    laurie.little@valeant.com

(Logo: http://www.newscom.com/cgi-bin/prnh/20081125/VALEANTLOGO)


'/>"/>
SOURCE Valeant Pharmaceuticals International
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Three Rivers Pharmaceuticals(R), LLC Acquires Hepatitis C Drug Infergen(R) from Valeant Pharmaceuticals
2. Valeant Pharmaceuticals to Announce 2008 Fourth Quarter and Year Results on February 24, 2009
3. Valeant Pharmaceuticals Reports Fourth Quarter and Full Year Financial Results
4. Valeant Pharmaceuticals Announces Annual Stockholder Meeting Date
5. Valeant Pharmaceuticals to Present at Cowen and Company 29th Annual Health Care Conference
6. Valeant Pharmaceuticals Appoints President of Valeant Pharmaceuticals International
7. Valeant Pharmaceuticals to Announce 2009 First Quarter Results on May 5, 2009
8. Valeant Pharmaceuticals Highlights Taribavirin Phase IIb 60-Week Data Presentation at European Association for the Study of Liver (EASL) Annual Meeting
9. Valeant Pharmaceuticals to Present at Bank of America and Merrill Lynch 2009 Health Care Conference
10. Valeant to Acquire Polish Dermatology Company
11. Valeant Announces Increase to Securities Repurchase Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/13/2016)... ... 2016 , ... The producers of Enterprises TV are pleased to ... modern world of instantaneous consumption proves very convenient for businesses. With new technologies constantly ... coal, which pollutes our air, water, and soil. It can also threaten the lives ...
(Date:2/13/2016)... City, Utah (PRWEB) , ... February 13, 2016 , ... When an Au Pair ... Parents aren’t always sure what they are in for and they are often worried things ... more than they were hoping for. This year’s Au Pair of the Year winner’s all ...
(Date:2/12/2016)... (PRWEB) , ... February 12, 2016 , ... According to ... surgeries are beginning to account for a significant portion of hernia repairs throughout the ... of the Beverly Hills Hernia Center notes that this trend has not only been ...
(Date:2/12/2016)... ... February 12, 2016 , ... ... announced a new initiative—the Siemens Foundation-PATH Ingenuity Fellowships—to develop the advanced skills ... recruit top students from U.S. universities who will draw from Siemens’ deep ...
(Date:2/12/2016)... Falls Church, VA (PRWEB) , ... February 12, ... ... in Store?, Feb. 29, 2016 — 1:30 p.m. – 3:00 p.m. EST, ... burner issue in the life cycle of pharmaceutical products, garnering increased attention from ...
Breaking Medicine News(10 mins):
(Date:2/12/2016)... , 12 februari 2016 ... een toonaangevende leverancier van productie en ontwikkeling ... industrieën, kondigt vandaag een uitbreiding aan van ... haar locatie in Charleston, SC ... geleid tot meerdere recente investeringen. ...
(Date:2/12/2016)... 2016 Indiso ltd ... ungedeckten medizinischen Bedarf bei Lungen- und Atemwegserkrankungen ... Forschungsprogramms bekannt. Das Programm, das sich mit ... respiratorischen Funktionen und anderer klinischer Parameter. ... das sich auf den ungedeckten medizinischen Bedarf ...
(Date:2/11/2016)... , Feb. 11, 2016 ... Companion Diagnostics in Personalized Medicine and Cancer Therapy. ... - High-Growth Diagnostic Testing Markets. - Key Diagnostic ... - Molecular Diagnostics in Genetic Testing. - ... Diagnostics Markets. - Over-the-Counter Diagnostic Products World Markets. ...
Breaking Medicine Technology: