COLUMBIA LABORATORIES SIGNS LETTER OF INTENT TO LICENSE AND SUPPLY REPLENS AND OTHER WOMEN'S OTC HEALTH CARE PRODUCTS
COLUMBIA LABORATORIES SIGNS LETTER OF INTENT TO LICENSE AND SUPPLY
REPLENS AND OTHER WOMEN'S OTC HEALTH CARE PRODUCTS
HOLLYWOOD, Fla., Nov. 15 /PRNewswire/ -- Columbia Laboratories, Inc. (AMEX: COB) today announced that it has signed a non-binding letter of intent with Warner-Lambert Company (NYSE: WLA), with the intention of entering into a license and supply agreement under which Warner-Lambert would have exclusive rights to license Replens(R) in the United States and Canada. The proposed agreement would provide Warner-Lambert with an option to negotiate exclusive licenses to other OTC women's health care products that Columbia is developing, based on its proprietary bioadhesive technology. The two companies are now negotiating a definitive agreement.
Upon completion of the definitive agreement, Warner-Lambert would become responsible for all marketing and sales of Replens, which is targeted to the many North American women who suffer from the problem of vaginal dryness.
"We are exceptionally pleased by this pending agreement with Warner- Lambert," said Norman M. Meier, president and chief executive officer of Columbia. "Having demonstrated in the marketplace during the past year that the product meets a very real need for women, we can now watch Replens reach its market potential with a company like Warner-Lambert."
Financial details regarding the proposed agreement were not disclosed.
Columbia Laboratories, Inc. is a U.S.-based international pharmaceutical company, established in 1987, dedicated primarily to developing and marketing women's health care products based on its patented bioadhesive drug delivery system.
/CONTACT: Margaret Roell, chief financial officer of Columbia Laboratories, 305-964-6666, or Marcia A. Kean, executive vice president of Feinstein Partners, 617-577-8110, for Columbia Laboratories/
(COB) (WLA) CO: Columbia Laboratories, Inc.; Warner-Lambert Company ST: Florida IN: MTC SU: LIC PS -- NY005 -- 1363 11/15/91 08:45 EST