CIMA LABS Enters Product Development, License And Supply Agreement With Schering-Plough For Fast-Dissolve Prescription Product.Business Editors EDEN PRAIRIE Eden Prairie A city of eastern Minnesota, a residential suburb of Minneapolis. Population: 57,300. , Minn--(BUSINESS WIRE)--May 21, 2002 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:CIMA) today announced it has entered into a product development, license and supply agreement with Schering-Plough Limited, a subsidiary of Schering-Plough Corporation (NYSE NYSE See: New York Stock Exchange :SGP SGP Singapore (ISO Country code) SGP Schering-Plough (stock symbol) SGP Stability and Growth Pact SGP Southern Great Plains SGP Staatkundig Gereformeerde Partij SGP Speedway Grand Prix ), for a prescription product that will utilize CIMA's OraSolv(R) fast-dissolve drug delivery system. Under this agreement, CIMA will receive fees and milestone payments from Schering-Plough for developing a fast-dissolve prescription pharmaceutical product. CIMA will retain exclusive manufacturing rights for this product. CIMA will also receive royalty payments based on Schering-Plough's sales of any product resulting from this agreement. Schering-Plough retains certain rights to assume manufacturing of the product. Financial terms were not disclosed. John M. Siebert, Ph.D., president and chief executive officer, commented: "Expanding our portfolio of partner-funded collaborations with a pharmaceutical company of Schering-Plough's worldwide stature marks an extremely important development for CIMA. In addition, we believe this agreement further validates the benefits of our fast-dissolve technology". 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 our technologies, an active drug ingredient 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. We develop and manufacture fast-dissolve versions of drugs for pharmaceutical company partners for whom we currently produce three branded prescription pharmaceuticals and two over-the-counter brands. CIMA is also developing proprietary products that will utilize our OraSolv and DuraSolv technologies, as well as our new OraVescent(R) enhanced absorption, transmucosal drug delivery system. About Schering-Plough: Schering-Plough Corporation of Kenilworth, N.J., is a research-based company engaged in the discovery, development, manufacturing and marketing of pharmaceutical products worldwide. Cautionary Statement: This press release, including the information related to CIMA's expectations about new product introductions, marketing efforts of third parties, sources of future revenues, earnings and revenues, 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. A number of factors could cause actual results to differ materially from CIMA's assumptions and expectations. These factors include the timely and successful completion of product development activities, regulatory approval for proposed products, consumer acceptance of CIMA's products and the success of pharmaceutical companies in marketing CIMA's products. 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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