LONDON and SUNNYVALE, Calif., Jan. 7 /PRNewswire/ -- GlaxoSmithKline plc
(GSK) and Scios Inc. (Nasdaq: SCIO) today announced that they have entered
into an agreement in which Scios will license Natrecor(R) (nesiritide), a
treatment for acute heart failure, to GSK in all European markets.
Under the terms of the agreement, GSK will have the rights to sell and
distribute the product for which Scios will receive an up-front fee and
milestone payments over four years, in addition to future royalties on
European sales. Scios will manufacture and supply the bulk product to GSK.
Both companies will work together to continue clinical development of Natrecor
in Europe.
In order to obtain European approval for Natrecor, GSK expects to use the
extensive clinical data Scios submitted to obtain approval from the U.S. Food
and Drug Administration in August 2001. The companies expect to launch
Natrecor in Europe in the first half of 2004.
Commenting on the agreement, Christopher Viehbacher, President,
Pharmaceuticals Europe, GlaxoSmithKline said: "Natrecor adds another
important product to our cardiovascular pipeline and complements our existing
products, in cardiovascular and emergency medicine in Europe. This agreement
is indicative of our intention to become the partner of choice for those
companies wishing to maximize the commercial potential of their products and
increase their global presence."
Richard B. Brewer, Scios' president and chief executive officer, added
that "Natrecor will offer physicians in Europe a new alternative for treating
acute heart failure, just as it has in the United States. We are excited
about the collaboration with GSK, one of the world's pharmaceutical leaders,
to further enhance Natrecor's potential value in treating this disease and
realizing its blockbuster potential."
Natrecor is the first of a new drug class and is a recombinant form of
B-type natriuretic peptide (BNP), a hormone secreted by the heart in response
to heart failure. Scios launched Natrecor in the United States in
August 2001, making it the first new drug available for acute heart failure
patients in over a decade. In Europe approximately one million patients are
admitted to hospital with a primary diagnosis of acute congestive heart
failure each year.
JPMorgan H&Q Presentation Details
Mr. Brewer will present today at the 20th Annual JPMorgan H&Q Healthcare
Conference at 2:00 p.m. PST in the Colonial Room of the Westin St. Francis
Hotel in San Francisco, Calif. The presentation will be available via live
webcast at http://www.eventsdigital.com/events/jpmhq/healthcare2002 and archived for
60 days following the presentation or by logging onto the investor section of
the company's website at http://www.sciosinc.com .
GlaxoSmithKline
GlaxoSmithKline -- one of the world's leading research-based
pharmaceutical and healthcare companies -- is committed to improving the
quality of human life by enabling people to do more, feel better and live
longer.
Scios Inc.
Scios is a biopharmaceutical company developing novel treatments for
cardiovascular and inflammatory disease. The Company's disease-based
technology platform integrates expertise in protein biology with computational
and medicinal chemistry to identify novel targets and rationally design small
molecule compounds for large markets with unmet medical needs.
Forward-Looking Safe Harbor Statement
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. We generally identify such forward-looking statements
using words like "believe," "intend," "expect," "may," "should," "plan,"
"project," "contemplate," "anticipate" or similar statements. Statements
that are not historical facts are forward-looking statements based on current
assumptions that involve risks and uncertainties. These risks and
uncertainties may include the sales penetration and success of Natrecor,
obtaining regulatory approval and market acceptance in Europe, the success of
clinical trials of our pipeline products, including SCIO-469, as well as other
risks detailed from time to time in the reports filed by Scios with the SEC,
including the Company's quarterly reports and annual report on Form 10-K.
Actual results, performance or achievements of Scios may differ significantly
from those described in these forward-looking statements. Scios disclaims any
intention or obligation to update or revise any financial projections or
forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE Scios Inc.
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Related links:
http://www.sciosinc.com
CONTACT:
Investors - Wendy Carhart of Scios Inc.,
+1-650-619-4038; or media - Jim Weiss of WeissCom Partners, Inc.,
+1-415-203-0328; or Michelle Choi of Edelman Public Relations
Worldwide, +1-212-704-4580, both for Scios Inc.; or Nancy Pekarek
for GlaxoSmithKline, +1-215-751-7709
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