Aventis Announces Agreement to Sell Azmacort(R) (triamcinolone acetonide) to Kos Pharmaceuticals, Inc.
March 07 2004 - 11:01PM
PR Newswire (US)
Aventis Announces Agreement to Sell Azmacort(R) (triamcinolone
acetonide) to Kos Pharmaceuticals, Inc. STRASBOURG, France, March 8
/PRNewswire-FirstCall/ -- Aventis announced today it has agreed to
sell the global rights to Azmacort (triamcinolone acetonide)
Inhalation Aerosol to Kos Pharmaceuticals, Inc., a specialty
pharmaceutical company based in Miami, Florida. Under the terms of
the agreement, Kos will acquire Azmacort for a one-time cash
purchase price of U.S. $200 million. Additionally, upon the launch
of an Azmacort HFA formulation (HFA, or hydrofluoralkane
propellant, has significantly less ozone-depleting potential than
the propellant in the original Azmacort formulation), Kos will pay
Aventis an annual royalty on net sales. (Logo:
http://www.newscom.com/cgi-bin/prnh/20000501/NYM197 ) The
divestiture of this product is in line with the company's strategy
to actively evaluate its product portfolio, and assess
opportunities for divestment and replacement with compounds focused
on strengthening key disease areas. This transaction is expected to
be completed by the end of the first quarter of 2004, pending U.S.
regulatory approval under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 ("HSR"). Azmacort is an inhaled
corticosteroid indicated as prophylactic treatment for the
maintenance of asthma for patients age six and up. Azmacort is also
indicated for asthma patients who require systemic corticosteroid
administration, where adding Azmacort may reduce or eliminate the
need for systemic corticosteroids. In 2003, global net sales of
Azmacort were approximately 78 million euros. About Aventis Aventis
is dedicated to treating and preventing disease by discovering and
developing innovative prescription drugs and human vaccines. In
2003, Aventis generated sales of 16.79 billion euros (US $18.99),
invested 2.86 billion euros (US $3.24) in research and development
and employed approximately 69,000 people in its core business.
Aventis corporate headquarters are in Strasbourg, France. The
company's prescription drugs business is conducted in the U.S. by
Aventis Pharmaceuticals Inc., which is headquartered in
Bridgewater, New Jersey. For more information, please visit:
http://www.aventis.com/. Statements in this news release containing
projections or estimates of revenues, income, earnings per share,
capital expenditures, capital structure, or other financial items;
plans and objectives relating to future operations, products, or
services; future economic performance; or assumptions underlying or
relating to any such statements, are forward-looking statements
subject to risks and uncertainties. Actual results could differ
materially depending on factors such as the timing and effects of
regulatory actions, the results of clinical trials, the company's
relative success developing and gaining market acceptance for new
products, the outcome of significant litigation, and the
effectiveness of patent protection. Additional information
regarding risks and uncertainties is set forth in the current
Annual Report on Form 20-F of Aventis on file with the Securities
and Exchange Commission and in the current Annual Report -"Document
de Reference" -- on file with the "Autorite des marches financiers"
in France. Pursuant to Article 7 of the COB Regulation no. 2002-04,
this press release was transmitted to the Autorite des marches
financiers before its release.
http://www.newscom.com/cgi-bin/prnh/20000501/NYM197DATASOURCE:
Aventis Pharmaceuticals Inc. CONTACT: Constance Bienfait of Kos
Pharmaceuticals, +1-305-523-3658; or Corinne Hoff, Media Relations,
+33-3-88-99-19-16, or ; or US Communications, Lise Geduldig,
+1-908-243-6580, or , or Melissa Feltmann, +1 908 243-7080, , all
of Aventis Web site: http://www.aventis.com/
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