Posted by psychosage on January 3, 2005, at 6:01:09
Shire Signs Non-Binding Agreement for New ADHD Phase III Compound
BASINGSTOKE, UK and PHILADELPHIA, Dec. 31 /CNW/ -- Shire
Pharmaceuticals Group plc (LSE: SHP; Nasdaq: SHPGY; TSX: SHQ) announces the
signing of a non-binding initial agreement to globally develop and
commercialize a new Attention Deficit Hyperactivity Disorder (ADHD) compound
from New River Pharmaceuticals Inc.
The compound, currently known as NRP104, is in Phase III clinical
development in the US. New River Pharmaceuticals expects the product to reach
the market in the US by 2006.
NRP104 is a new chemical entity -- an amphetamine prodrug where lysine is
linked to d-amphetamine single salt. Because it is inactive until metabolized
in the GI tract, it may offer the advantage of reduced potential for abuse or
overdose and may have a unique safety profile versus traditional stimulants.
Says Matthew Emmens, Shire's Chief Executive Officer: "We are impressed
with the New River Pharmaceuticals technology platform and with NRP104 in
particular. We are pleased to be in the final stage of our discussions. This
partnership is of benefit to both parties because of Shire's track record and
expertise in the ADHD market and its global structure. When a definitive
agreement is reached, access to this unique compound will support our vision
of maintaining a leadership position in the treatment of ADHD in the years
ahead."
As negotiations continue deal terms are not being disclosed. Under the
terms of the letter of intent signed today, Shire has the exclusive right to
negotiate a transaction with New River until January 31, 2005. The final
agreement will be subject to all necessary regulatory approvals.
Shire Pharmaceuticals Group plc
Shire Pharmaceuticals Group plc (Shire) is a global specialty
pharmaceutical company with a strategic focus on meeting the needs of the
specialist physician and currently focuses on developing projects and
marketing products in the areas of central nervous system (CNS),
gastrointestinal (GI), and renal diseases. Shire has operations in the
world's key pharmaceutical markets (US, Canada, UK, France, Italy, Spain and
Germany) as well as a specialist drug delivery unit in the US.
For further information on Shire, please visit the Company's website:
www.shire.com
THE "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995
Statements included herein that are not historical facts are forward-
looking statements. Such forward-looking statements involve a number of risks
and uncertainties and are subject to change at any time. In the event such
risks or uncertainties materialize, Shire's results could be materially
affected. The risks and uncertainties include, but are not limited to, risks
associated with the inherent uncertainty of pharmaceutical research, product
development, manufacturing and commercialization, the impact of competitive
products, including, but not limited to, the impact of those on Shire's
Attention Deficit & Hyperactivity Disorder (ADHD) franchise, patents,
including but not limited to, legal challenges relating to Shire's ADHD
franchise, government regulation and approval, including but not limited to
the expected product approval dates of METHYPATCH(R) (methylphenidate),
Shire's ability to secure new products for development, the implementation of
the current reorganization and other risks and uncertainties detailed from
time to time in Shire's filings, including its Annual Report on Form 10-K for
the year ended December 31, 2003, with the Securities and Exchange Commission.
For further information: Investor Relations, Clea Rosenfeld (UK and
Europe), +44 1256 894 160, or Brian Piper (US and Canada), +1-484-595-8252,
or Media, Jessica Mann (UK and Europe), +44 1256 894 280, or Matthew Cabrey
(US), +1-484-595-8248
/Web site: http://www.shiregroup.com
poster:psychosage
thread:437121
URL: http://www.dr-bob.org/babble/20050103/msgs/437121.html