IRVINE, Calif., and SAN DIEGO, Feb. 23 /PRNewswire/ -- Allergan, Inc.
(Allergan) (NYSE: AGN) and Dura Pharmaceuticals, Inc. (Dura) (Nasdaq: DURA)
announced today that they have entered into a multi-year, multi-product
agreement to commercialize selected Allergan products in the U.S. primary care
and respiratory segments. The companies will co-launch Alocril(TM)
(nedocromil sodium ophthalmic solution 2%), Allergan's proprietary topical
compound indicated for the treatment of itch associated with allergic
conjunctivitis, by March of this year. Allergan will promote Alocril(TM) to
ophthalmologists and Dura will promote the product to primary care
practitioners and respiratory specialists. The agreement includes a joint
structure to evaluate additional opportunities for Dura to promote specific
development-stage products, once those products are approved, and a commitment
to launch a second product to the same segments at a yet unspecified date.
"Allergan is very excited about this commercial alliance with Dura
Pharmaceuticals. Dura has one of the most skillful and highly motivated sales
forces in the United States," said David E.I. Pyott, President and Chief
Executive Officer of Allergan. "Dura's experience and their related success
in the primary care and respiratory segments make them an ideal partner to
co-launch Alocril(TM) with us during the peak of the spring allergy season.
These segments are currently responsible for approximately 35% of all
prescriptions generated in the rapidly growing ocular allergy market,"
continued Mr. Pyott. "This transaction is another in a series of similar
transactions designed to create incremental value by effectively bringing
Allergan products to important physician audiences outside of our core sales
and marketing focus in ophthalmology."
"Dura is extremely pleased to collaborate with Allergan, the world leader
in eye care research and development, and we look forward to working closely
with them to build a significant new franchise in the primary care and
respiratory segments," said Cam L. Garner, Dura's Chairman and Chief Executive
Officer. "By agreeing to launch Allergan's products into these segments, the
companies aim to establish a strong presence in a rapidly growing market.
This alliance allows Allergan's premier products to enjoy increased sales over
their current audiences, while allowing us to leverage our field-based sales
force and our expertise in the allergy market. In the longer term, we look
forward to launching the second product and to evaluating additional
promotional opportunities with Allergan. We are very excited about this
alliance and regard it as fully consistent with our enduring goal of
identifying strong strategic matches and collaborating with industry-leading
companies."
Allergan received United States Food and Drug Administration approval for
the marketing of Alocril(TM) (nedocromil sodium ophthalmic solution 2%) in
December 1999. Clinical studies demonstrated that Alocril(TM) provides
effective treatment for itch due to allergic conjunctivitis. Alocril(TM) has
been shown to inhibit mediator release from mast cells as well as decreasing
chemotaxis and decreasing activation of other cell types. In addition, the
drug's safety profile allows it to be used on children three years and older.
Allergan, Inc. headquartered in Irvine, California, is a
technology-driven, global health care company providing eye care and specialty
pharmaceutical products worldwide. Allergan develops and commercializes
products in the eye care pharmaceutical, ophthalmic surgical device,
over-the-counter contact lens care, movement disorder, and dermatological
markets that deliver value to our customers, satisfy unmet medical needs and
improve patients' lives.
Dura Pharmaceuticals, Inc. is a San Diego based developer and marketer of
prescription pharmaceutical products for the treatment of allergies, asthma,
pneumonia and related respiratory conditions. Dura focuses on the U.S.
respiratory market because of its size and growth opportunities through two
major strategies: (1) acquiring prescription pharmaceuticals and/or businesses
developing or marketing such pharmaceuticals to support its marketing presence
in high-prescribing physicians' offices and/or the hospital market, and (2)
developing Spiros(R), a pulmonary drug delivery system for both topical and
systemic delivery of medications.
Any of the above statements that refer to Allergan's estimated or
anticipated future results or product performance are forward-looking and
reflect the Company's current analysis of existing trends and information.
Actual results may differ from current expectations based on a number of
factors affecting Allergan's businesses, including new product performance,
competitive conditions and products, and changing market conditions, and the
successful execution of the alliance agreement between Allergan and Dura.
These forward-looking statements represent the Company's judgment only as of
the date of this press release. Actual results could differ materially from
expectations reflected in this release. As a result, the reader is cautioned
not to rely on these forward-looking statements. The Company disclaims any
intent or obligation to update these forward-looking statements.
Additional information concerning these factors can be found in press
releases as well as in Allergan's public periodic filings with the Securities
and Exchange Commission, including the discussion under the heading "Certain
Factors and Trends Affecting Business" in Allergan's 1998 Form 10-K. These
filings are available publicly and upon request from Allergan's Investor
Relations Department: 714-246-4636 or on the internet at
http://www.allergan.com.
Except for the historical and factual information contained herein, the
matters discussed in this press release regarding Dura or its business may
contain forward-looking statements which involve risks and uncertainties,
including the effectiveness of our sales forces in promoting our products,
difficulties we may encounter in launching new products, our dependence on
third parties for manufacturing and development, the competitiveness of the
pharmaceutical industry, and other risks detailed from time to time in Dura's
filings with the Securities and Exchange Commission. Actual results may
differ materially from those projected. Any forward-looking statements
represent Dura's judgment as of the date of this release. Dura disclaims,
however, any intent or obligation to update these forward-looking statements.
Further information about Dura Pharmaceuticals, Inc. can be found at
http://www.durapharm.com.
SOURCE Dura Pharmaceuticals, Inc.
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Related links:
http://www.durapharm.com
Company News On-Call:
http://www.prnewswire.com/comp/197051.html or fax,
800-758-5804, ext. 197051
CONTACT:
Michael T. Borer of Dura Pharmaceuticals,
858-457-2553; or Investors: Jeff Edwards, 714-246-4636, or Media:
Ira Haskell, 714-246-4515, both of Allergan
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