CIMA LABS Announces License and Supply Agreement with New Partner for Prescription Pharmaceutical Product; Company to Develop Product to Address the Anti-Inflammatory Therapeutic Market.Business Editors/Health/Medical Writers EDEN PRAIRIE Eden Prairie A city of eastern Minnesota, a residential suburb of Minneapolis. Population: 57,300. , Minn.--(BUSINESS WIRE)--July 1, 2003 CIMA LABS INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (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 : CIMA) announced today that it has signed a license and supply agreement with an undisclosed partner for a fast-dissolve prescription anti-inflammatory product. Under this agreement, CIMA will work with the partner to develop the product, which remains undisclosed at this time, and will manufacture commercial supplies. During the development phase of the agreement, CIMA expects to receive in excess of $7 million over a four-year period in development fees for multiple doses of the compound. In subsequent phases, CIMA would receive revenue from the sale of the product to its partner and receive royalty payments from its partner based on commercial sales volume. Steven Ratoff, CIMA's chairman and interim chief executive officer, commented: "This agreement reinforces CIMA's reputation as an industry leader in fast-dissolve, and further demonstrates the value of fast-dissolve technology in product life-cycle management and line extension for pharmaceutical companies. In addition, the agreement illustrates our commitment to expanding our collaborative partner product pipeline and broadening the number of therapeutic categories we address. Our pipeline now includes 14 products under development in a wide range of therapeutic categories." About CIMA: CIMA develops and manufactures prescription and over-the-counter products based upon its proprietary, fast-dissolve drug delivery technologies, OraSolv(R) and DuraSolv(R). Based on its technologies, an active drug ingredient, which the Company frequently taste-masks, is formulated for·mu·late tr.v. for·mu·lat·ed, for·mu·lat·ing, for·mu·lates 1. a. To state as or reduce to a formula. b. To express in systematic terms or concepts. c. into a new, orally disintegrating dosage form A dosage form is the physical form of a dose of medication, such as a capsule or injection. The route of administration is dependent on the dosage form of a given drug. that dissolves quickly in the mouth without chewing chewing or mastication Up-and-down and side-to-side movements of the lower jaw, using the teeth to grind food for easier swallowing. During chewing, the tongue shapes food into a lump and saliva lubricates it for swallowing. or the need for water. CIMA's business involves a dual operating strategy. The Company develops and manufactures fast-dissolve versions of drugs for pharmaceutical company partners for whom CIMA currently produces three branded prescription pharmaceuticals and three over-the-counter brands. CIMA also is developing proprietary products utilizing its fast-dissolve technologies, as well as its new OraVescent(R) enhanced absorption, transmucosal drug delivery system. Cautionary Statement: This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements include, but are not limited to those relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc CIMA's expectation of in excess of $7 million in development fees and the Company's ability to provide its partner with commercial supplies. A number of factors could cause actual results to differ materially from CIMA's assumptions and expectations. These factors include the successful completion of feasibility projects, consumer acceptance of CIMA's products, the receipt of firm orders for CIMA's products, the success of pharmaceutical companies in marketing CIMA's products, production costs, production yields, agreeing to commercial terms with pharmaceutical companies for new collaborative development and license agreements, capacity utilization Capacity Utilization measures the rate at which a firm makes use of their capital productive capacities, such as factories and machinery. Capacity Utilization generally rises when the economy is healthy and falls when demand softens. of product development and manufacturing resources, the outcome of tests in humans of proposed products, returns on investments, and recognition of income tax benefits. Additional factors that may cause actual results to differ from CIMA's assumptions and expectations include those set forth under the heading "Factors That Could Affect Future Results" included in CIMA's most recent filings with the Securities and Exchange Commission. All forward-looking statements are qualified by, and should be considered in conjunction with, such cautionary statements. |
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