Chiroscience enters joint venture on Naproxen.NEW YORK--(BUSINESS WIRE)--Jan. 30, 1996--Chiroscience Group plc, the leading chiral chi·ral adj. Of or relating to the structural characteristic of a molecule that makes it impossible to superimpose it on its mirror image. chi·ral pharmaceutical company, has signed a worldwide agreement with Conti BPC BPC British Potato Council BPC Brewton-Parker College (Mt Vernon, GA) BPC Bible Presbyterian Church BPC Bangladesh Petroleum Corporation (Chittagong, Bangladesh) BPC British Pharmaceutical Codex of Belgium for the manufacture, sale and marketing of (S)-Naproxen to leading American and European generic companies for bulk supply contracts. (S)-Naproxen is a highly successful analgesic analgesic (ăn'əljē`zĭk), any of a diverse group of drugs used to relieve pain. Analgesic drugs include the nonsteroidal anti-inflammatory drugs (NSAIDs) such as the salicylates, narcotic drugs such as morphine, and synthetic drugs and non-steroidal, anti-inflammatory drug (NSAID NSAID: see nonsteroidal anti-inflammatory drug. ). This venture has the potential to generate, within three to four years, sales revenue in excess of $20 million annually, with profits being shared equally between the two companies. Conti, a leading European, FDA-approved pharmaceutical and pharmaceutical intermediate producer, will manufacture both (S)-Naproxen Acid and (S)-Naproxen Sodium using Chiroscience's proprietary bio-resolution technology. Commenting on the joint venture, Dr. Alan Shaw, director of sales at Chiroscience said, "This venture is a significant step forward for Chiroscience and is an endorsement of our collaboration strategy and our position as the world leader in chiral technology. "(S)-Naproxen is the first and most advanced in a line of compounds, currently marketed in their single isomer isomer (ī`səmər), in chemistry, one of two or more compounds having the same molecular formula but different structures (arrangements of atoms in the molecule). Isomerism is the occurrence of such compounds. form, to which Chiroscience is applying its unique chiral technology skill base. We look forward to further collaboration with Conti for these products." The principal indications for (S)-Naproxen Acid are anti-inflammatory, and analgesia analgesia /an·al·ge·sia/ (an?al-je´ze-ah) 1. absence of sensibility to pain. 2. the relief of pain without loss of consciousness. for (S)-Naproxen Sodium. The current market for combined sales of the bulk active exceeds $200 million per annum Per annum Yearly. with sales predominantly in the USA. Following the hugely successful OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). launch of (S)-Naproxen in the USA (with significant growth expected in the European generic and OTC markets), it is estimated that global sales of the bulk active will exceed $400 million by the year 2000. According to Dr. Helmut Schickaneder, managing director at Conti, "Chiroscience and Conti have gained a significant, competitive advantage by combining sophisticated biotechnology skills with high quality, reliable bulk pharmaceutical chemical manufacturing. This joint venture gives us the opportunity to satisfy the growing demand for (S)-Naproxen in the USA and Europe." -0- Chiroscience is a world leader in the development of improved single isomer drugs, with a focus on reducing the time taken to bring drugs to market. Established just four years ago, Chiroscience has rapidly developed an exciting pharmaceutical pipeline comprised of four novel inhibitor programs targeting cancer and the inflammatory conditions of arthritis and asthma. Five single isomer development programs are currently in varying stages of pre-clinical and clinical development with levobupivacaine as the front-runner. CONTACT: Shandwick Healthcare, New York Constantine Theodoropulos, 212/420-8100, ext. 217 |
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