Bio-Technology General Licenses BioLon in Japan and Other Pacific Rim Countries.ISELIN, N.J.--(BUSINESS WIRE)--Feb. 24, 1997--Bio-Technology General Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BTGC BTGC Bio-Technology General (stock symbol) BTGC Bukit Tinggi Golf Club (Malaysia) ) today announced that it has granted Rohto Pharmaceutical Company, Ltd. ("Rohto") an exclusive license to BTG's ophthalmic product, BioLon(TM), for Japan, and other Pacific Rim countries. Rohto has undertaken to register BioLon in these territories. Terms of the agreement include a payment on signing and future milestone payments. Rohto, a long-established pharmaceutical company based in Osaka, Japan, specializes in ophthalmic, gastrointestinal and dermatological agents, with 41% of its sales in the ophthalmic sector. Rohto's eye care products, which include artificial tears artificial tears A solution containing 0.5% carboxymethyl cellulose or 5% polyvinyl alcohol, used to treat dry eye–xerophthalmia, often associated with Sjögren syndrome, which may also be due to sarcoidosis, senile lacrimal gland atrophy, acute or and antibacterial eye drops, hold a 35% share of the Japanese ophthalmics market. Commenting on the agreement, Sim Fass, president and chief executive officer of BTG BTG BIT (Built-In Test) Target Generator BTG Bridging the Gap BTG British Technology Group BtG Betreuungsgesetz (Germany) BTG Biomass Technology Group BV BTG Begbies Traynor Group , stated: "Rohto is a pharmaceutical company with a leading position in the ophthalmics market of Japan. We are therefore very pleased that they now will be adding BioLon to their ophthalmics product line. Because of Rohto's strength in the ophthalmics field, we are confident that they will be a very effective partner for our product in the licensed territories." BioLon, which is used in ophthalmic surgical procedures such as cataract removal, is already marketed in seventeen countries worldwide. It is a viscoelastic Adj. 1. viscoelastic - having viscous as well as elastic properties natural philosophy, physics - the science of matter and energy and their interactions; "his favorite subject was physics" 1% solution of sodium hyaluronate hyaluronate /hy·al·uro·nate/ (hi?ah-ldbobr´ro-nat) a salt, anion, or ester of hyaluronic acid. The sodium salt and a derivative of it are used as analgesics in the treatment of osteoarthritis of the knee. in a ready-to-use syringe and is manufactured, filled and packaged by BTG. In 1996, BTG filed a Premarket Approval Application ("PMA PMA (papillary-marginal-attached), n a system of epidemiologic scoring of periodontal disease devised by Schour and Massler in which the symbols denote the areas involved in gingival inflammation. PMA Progressive muscular atrophy ") with the U.S. Food and Drug Administration for BioLon. Approval to market it in the United States, where it has been classified as a medical device, is pending. Bio-Technology General Corp. develops, manufactures and markets genetically engineered and other products for human health care. CONTACT: Bio-Technology General Corp. Leah Berkovits, 908/632-8800 or Strategic Growth International Don Weinberger, 516/829-7111 |
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