MOUNTAIN VIEW, Calif., March 18 /PRNewswire/ -- Aviron (Nasdaq: AVIR)
today announced that the U.S. Federal Trade Commission granted early
termination of the waiting period under the Hart-Scott-Rodino Antitrust
Improvement Act of 1976 regarding Aviron's collaboration with Wyeth Lederle
Vaccines and Nutrition, a business unit of Wyeth-Ayerst Laboratories (the
pharmaceutical division of American Home Products Corporation).
The global agreement for FluMist(TM), Aviron's investigational intranasal
influenza vaccine, was announced January 12, 1999. As a result of the FTC
clearance, the collaboration becomes effective, and Aviron receives a
$15 million up-front payment. The total potential value of the license fees,
milestones and financing support that Aviron could receive under the terms of
the agreement exceeds $400 million, not including product transfer payments
and royalties on product sales.
Aviron is a biopharmaceutical company based in Mountain View, CA focused
on prevention of disease. The company's goal is to develop products which
offer cost-effective prevention of a wide range of infections that affect the
general population. FluMist(TM) is the company's lead vaccine candidate.
This press release contains forward-looking statements. Factors that
could cause actual results to differ materially include, but are not limited
to failure to receive regulatory approval for the marketing of FluMist(TM) or
to receive payments under collaborative agreements that are contingent upon
future events that may or may not occur. Sales of FluMist(TM) and future
payments to Aviron are dependent upon the successful development,
manufacturing, supply, sale and distribution of the product by Aviron, its
third party suppliers and Wyeth Lederle. Risks and uncertainties also include
those detailed from time to time in Aviron's periodic reports filed with the
Securities and Exchange Commission including Quarterly Reports on Form 10-Q
and Annual Reports on Form 10-K. Actual results may differ from the
forward-looking statements.
To receive an index and copies of recent press releases, call Aviron's
News-On-Call toll-free fax service, 800-758-5804, extension 114000.
Additional information about the company can be located at
http://www.aviron.com.
SOURCE Aviron
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Related links:
http://www.aviron.com
Company News On-Call:
http://www.prnewswire.com/comp/114000.html or fax,
800-758-5804, ext. 114000
CONTACT:
Investors: Lyn Christenson, 650-919-3716,
or Media: Karen Gilbert, 650-919-6578, both of Aviron,; or John
Bluth, 415-356-1000, or Louise Leavitt, 212-453-2000, both of
Fleishman-Hillard
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