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| AHP and Elan Create Alliance in the Treatment of Sleep Disorders |
Elan Will Spearhead U. S. Marketing for Sonata
And Create Next Generation of Sonata Products
MADISON, N.J., and DUBLIN, Ireland, Dec. 20 /PRNewswire/ --
American Home Products Corporation (NYSE: AHP) ("AHP"), one of the world's
largest research-based pharmaceutical and health care products companies, and
Elan Corporation, plc (NYSE: ELN) ("Elan"), a leading biopharmaceutical and
drug delivery company, today announced a strategic alliance to develop and
commercialize novel therapeutics for the treatment of sleep disorders.
Under the terms of the alliance, AHP is contributing the U.S. marketing
rights to Sonata(R) (zaleplon), a novel treatment for sleep disorders that was
launched by Wyeth-Ayerst (AHP's pharmaceutical division) in 1999. Sonata(R),
the #2 branded hypnotic in the U.S., generated 2000 revenues of $68.6M and is
expected to generate 2001 revenues of approximately $85.4M. This alliance
expects to benefit from an expected patent extension from the FDA for Sonata's
existing formulation to 2008. As part of the alliance, Elan will contribute
its proprietary drug delivery technologies to develop new formulations of
Sonata(R). Elan will also be responsible for the marketing, sales and
distribution of Sonata(R) in the U.S. AHP will continue to promote the
original formulation of Sonata(R) to psychiatrists in the U.S. and will retain
all rights overseas. Financial terms of the agreement were not disclosed.
"This alliance -- which builds on our existing collaborations with Elan,
including our major research and development program for the treatment of
Alzheimer's disease -- marks an exciting milestone for AHP," stated Robert
Essner, President and Chief Executive Officer of American Home Products. "By
applying its expertise in drug delivery, Elan intends to create several new
formulations of Sonata(R) to meet the needs of the fast-growing sleep disorder
market. We are confident that these new formulations, combined with the
addition of Elan's strong sales force in primary care and neurology, will lead
to continued growth in sales and expanded market share for Sonata(R)."
"We are delighted to partner with AHP to build on Sonata(R)'s success to
date," stated Donal Geaney, Chairman and Chief Executive Officer of Elan
Corporation, plc. "Sonata(R), a perfect fit for our neurology therapeutics
franchise, is a strong strategic addition to our product portfolio. It is
unique among sleep therapies in that it offers the versatility of taking it at
bedtime or later after the patient has tried to fall asleep -- without next
day grogginess. In addition to taking the existing Sonata(R) franchise to the
next level, our innovative drug delivery capabilities should allow us to
develop formulation enhancements designed to benefit patients, as well as to
extend the exclusivity of the franchise beyond 2008."
Mr. Geaney concluded, "Sonata(R)'s proprietary position ensures that we
can deliver revenue and market share growth through the application of our
sales and marketing expertise with the existing formulation, as well as
provide future growth prospects through the development of innovative drug
delivery formulations. The added revenues from Sonata(R) will be one of many
building blocks that will help us meet our goal of becoming one of the world's
leading biopharmaceutical companies."
About Sonata
In clinical trials, Sonata was shown to be effective in helping people
fall asleep quickly and awaken naturally the next day with no evidence of
hangover. In addition, it can be taken at bedtime or later after a patient
has tried to fall asleep on his or her own, provided the patient remains in
bed for at least four hours before becoming active again.
Like other sleep aids, a person can take Sonata at bedtime. But Sonata is
the first prescription-sleep aid ever that a person can take later if he or
she has at least four hours in bed before becoming active again. Individuals
will fall asleep fast and still wake up naturally, ready to start their day.
Sonata is not for everyone; a person should talk to his or her doctor to
see if Sonata is right for him or her. Sonata is for people who simply have
trouble falling asleep. It is not for premature awakenings. Until a person
knows how he or she will react to prescription sleep aids including Sonata,
they should not drive or operate machinery.
In clinical studies, common side effects are headache, dizziness, and
sleepiness. People should not drink alcohol while taking Sonata. People who
abuse prescription sleep aids may become dependent. Prescription sleep aids
are often taken for seven to 10 days as needed. A doctor will advise about
taking them longer.
About AHP
American Home Products Corporation (NYSE: AHP) is one of the world's
largest research-based pharmaceutical and health care products companies. It
is a leader in the discovery, development, manufacturing and marketing of
prescription drugs and over-the-counter medications. It is also a leader in
vaccines, biotechnology, and animal health care.
About Elan
Elan Corporation, plc is a leading worldwide, fully integrated
biopharmaceutical company headquartered in Ireland, with its principal
research, development, manufacturing and marketing facilities located in
Ireland, the United States and the United Kingdom. Elan is focused on the
marketing of therapeutic products and services in neurology, pain management,
oncology, infectious disease and dermatology and on the development and
commercialization of products using its extensive range of proprietary drug
delivery technologies. Elan shares trade on the New York, London and Dublin
Stock Exchanges.
The statements in this press release that are not historical facts are
forward-looking statements that involve risks and uncertainties including,
without limitation, risks associated with the inherent uncertainty of
pharmaceutical research, product development and commercialization, the impact
of competitive products and patents, the outcome of litigation and other risks
and uncertainties, including those detailed from time to time in periodic
reports. Actual results may differ from the forward-looking statements.
SOURCE American Home Products Corporation and Elan Corporation,plc
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Company News On-Call:
CONTACT:
Investors - Justin Victoria, American Home
Products, +1-973-660-5340, Jack Howarth, Elan - U.S.,
+1-212-407-5740, +1-800-252-3526, jack.howarth@elan.com, or Emer
Reynolds, Elan - Europe, +353-1-709-4080, +00800-28352600,
emer.reynolds@elan.com; or Media - Lowell Weiner, American Home
Products, +1-973-660-5013, weinerl@ahp.com, Douglas Petkus,
Wyeth-Ayerst, +1-610-902-7336, petkusd@labs.wyeth.com, or Max
Gershenoff, Elan, +1-212-407-5740, max.gershenoff@elan.com
