BUCKINGHAMSHIRE, England, and ST. LOUIS, May 8 /PRNewswire/ -- Nycomed
Amersham plc (NYSE: NYE; London: NAM) and Mallinckrodt Inc. (NYSE: MKG)
announced today that a major intellectual property settlement has been agreed
to by the two companies; Molecular Biosystems Inc. (NYSE: MB), Mallinckrodt's
ultrasound contrast product development partner; and SONUS Pharmaceuticals
Inc. (Nasdaq: SNUS).
The agreement covers all markets around the world with the exception of
the Pacific Rim and resolves key intellectual property disputes among the
parties, including ultrasound bubble composition.
Under terms of the settlement, Nycomed Amersham will receive from
Mallinckrodt a US$10m up-front license fee as well as royalties of an
undisclosed amount on future ultrasound contrast product sales. Nycomed
Amersham will also receive immediate joint access to OPTISON(R), the
ultrasound contrast agent currently marketed by Mallinckrodt for diagnosis of
cardiac wall abnormalities. The two companies have also agreed to collaborate
on further joint development and commercialization of Mallinckrodt's OPTISON
and of Nycomed Amersham's SONAZOID. In return, Nycomed Amersham grants
Mallinckrodt a non-exclusive license under the Nycomed and SONUS patents and
Mallinckrodt and Molecular Biosystems grant Nycomed Amersham and SONUS the
right to practice under their patents.
Nycomed Amersham Chief Executive Bill Castell, said, "The multi-party
settlement brings to an end significant litigation, confirms the strength of
our ultrasound intellectual property and provides clarity to the key claims
required to practice in the field. We are pleased to be working with
Mallinckrodt in the co-promotion and future development of OPTISON alongside
our own product SONAZOID, currently undergoing regulatory review in Europe and
the United States. By combining our efforts, we maximize the opportunities in
this potentially large market. Co-promotion of OPTISON allows Nycomed
Amersham immediate entry into the ultrasound market."
Mallinckrodt Chairman and Chief Executive Officer Ray Holman, said, "We
are delighted to have this litigation resolved and to now be partnering with
Nycomed Amersham in the ultrasound field as we seek to develop additional
cardiology and radiology indications beyond those existing today. Our two
companies have already made major investments to develop the ultrasound
contrast field and recognize that future development efforts designed to
enhance the utility of ultrasound as a diagnostic tool can be best served by
our sharing in the risks as well as the opportunities that exist for this
important modality. The settlement and linked collaboration reaffirm the
commitment our two companies have to bring innovative products to the market
that will help to improve healthcare for patients worldwide. This business
model is extremely appropriate and desirable in today's environment of complex
regulatory issues and increasing healthcare costs and needs."
Nycomed Amersham plc is a world leader in in-vivo diagnostic imaging and
in life sciences. The company has annual sales of 1.3 billion pounds sterling
and around 8,500 employees worldwide. For further information, visit our
website at http://www.nycomed-amersham.com .
Mallinckrodt Inc. is a global manufacturer and marketer of specialty
medical products designed to sustain breathing, diagnose disease and relieve
pain. Named one of America's most admired medical products and equipment
companies by Fortune magazine, Mallinckrodt does business in more than 100
countries. In fiscal 1999, combined net sales were $2.6 billion for
Mallinckrodt's respiratory, imaging and pharmaceutical product lines. Based
in St. Louis, Missouri, Mallinckrodt's website address is
http://www.mallinckrodt.com .
This news release contains forward-looking statements that involve risks
and uncertainties. These statements are based on current expectations; actual
results may differ materially. Among the factors that could cause actual
results to differ materially from those projected are the following: the
effect of business and economic conditions; the impact of competitive products
and continued pressure on prices realized by the company for its products;
constraints on supplies of raw materials used in manufacturing certain of the
company's products; capacity constraints limiting the production of certain
products; difficulties or delays in the development, production, testing, and
marketing of products; difficulties or delays in receiving required
governmental or regulatory approvals; market acceptance issues including the
failure of products to generate anticipated sales levels; difficulties in
rationalizing acquired businesses and in realizing related cost savings and
other benefits; the effects of and changes in trade, monetary and fiscal
policies, laws and regulations; foreign exchange rates and fluctuations in
those rates; the costs and effects of legal and administrative proceedings,
including environmental proceedings and patent disputes involving the company;
and the risk factors reported from time to time in the company's SEC reports.
The company undertakes no obligation to update any forward-looking statements
as a result of future events or developments.
SOURCE Mallinckrodt Inc.
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Related links:
http://www.mallinckrodt.com
Company News On-Call:
http://www.prnewswire.com/comp/440950.html or fax,
800-758-5804, ext. 440950
Contact: Media, Barbara Abbett, 314-654-5230, or e-mail,
barbara.abbett@mkg.com, or Investors, Robert Martsching,
314-654-3190, e-mail, Invest@mkg.com, both of Mallinckrodt Inc.;
or Matthew Butler, Director of Corporate Affairs, 44 1494 542
050, or Tracy Cheung, Investor Relations Manager, 44 1494 542
051, Carol Perlman, VP, Communications & Public Affairs,
609-514-6600, all of Nycomed Amersham
NOTE TO EDITORS: 1. Ultrasound Contrast Agents Unenhanced
ultrasound is a versatile, non-invasive, low-cost, real-time
technique in widespread use by both hospital and office-based
cardiologists. It is used extensively in the evaluation of
patients with known or suspected coronary arterial disease.
Indeed, the vast majority of cardiac patients in general are
screened by ultrasound and in 1998 over 25 million ultrasound
scans of the heart were performed throughout the world. However,
results are frequently inconclusive due to poor visualization of
the endocardial surfaces and further assessment is often
required. Ultrasound contrast agents improve delineation of
these surfaces and provide further information about cardiac wall
motion. With further development, they may also offer the
potential to show perfusion of the myocardium, or how well the
heart muscle is being perfused with its local blood supply, thus
strengthening the role of ultrasound in the diagnosis of heart
disease.
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