DRAXIS Divests Tiamol And Kerasal Product Lines To Taro Pharmaceuticals.Business Editors MISSISSAUGA, ONTARIO--(BUSINESS WIRE)--July 6, 2000 DRAXIS Health Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DAX.) (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 : DRAX) today announced that it has entered into an agreement to dispose of To determine the fate of; to exercise the power of control over; to fix the condition, application, employment, etc. of; to direct or assign for a use. See also: Dispose its Tiamol(R) and Kerasal(R) dermatological product lines to Taro Pharmaceutical Industries Ltd. (NASDAQ: TARO) for CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $1.125 million plus inventory. Dr. Martin Barkin, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DRAXIS Health stated, "This transaction with Taro completes DRAXIS' divestiture of its dermatology marketing and selling operations. DRAXIS, now focused on its prescription specialty portfolios in neurology and radiopharmaceuticals, has over 40 products in the marketplace and more than 10 products in its pipeline, of which two or three will be launched in each of the next few years." While the agreement for Tiamol(R) has been completed, the Kerasal(R) transaction is expected to close within the next week or so. The agreement with Taro includes the assignment of marketing rights for Kerasal(R) which DRAXIS holds under license from Spirig AG of Switzerland. Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products. DRAXIS Pharmaceutica is the pharmaceutical division of DRAXIS Health Inc. and is responsible for overseeing clinical trials, regulatory approval, marketing, and sales of pharmaceutical products in Canada. Its current focus is in the area of neurology. Products currently available through Pharmaceutica include Mysoline(R) and Diastat(R) for epilepsy, Permax(R) and Eldepryl(R) for Parkinson's disease, Alertec(TM) for narcolepsy narcolepsy, a sleep disorder characterized by excessive daytime sleepiness and recurring unwanted episodes of sleep ("sleep attacks"). People with narcolepsy may abruptly fall asleep at almost any time, including while talking, eating, or even walking. , and Zanaflex(R) for the treatment of spasticity spasticity /spas·tic·i·ty/ (spas-tis´i-te) the state of being spastic; see spastic (2). spas·tic·i·ty n. 1. A spastic state or condition. 2. Spastic paralysis. associated with conditions such as multiple sclerosis, stroke, spinal cord injury Spinal Cord Injury Definition Spinal cord injury is damage to the spinal cord that causes loss of sensation and motor control. Description Approximately 10,000 new spinal cord injuries (SCIs) occur each year in the United States. , cerebral palsy and traumatic brain injury Traumatic brain injury (TBI), traumatic injuries to the brain, also called intracranial injury, or simply head injury, occurs when a sudden trauma causes brain damage. TBI can result from a closed head injury or a penetrating head injury and is one of two subsets of acquired brain . DRAXIS holds the exclusive Canadian rights to Hectorol and also for Levulan(R) photodynamic therapy / photodetection for all indications. DRAXIS Health Inc. is a diversified speciality pharmaceutical company operating in three niche marRadiopharmaceuticals (DRAXIMAGE), Canadian sales and marketing (DRAXIS Pharmaceutica) and Companion Animal Health (through its global alliance with Pfizer Inc.). DRAXIS supports its own as well as third party manufacturing requirements through its subsidiary, DRAXIS Pharma, located in Kirkland, Quebec. Except for historical information, this news release contains certain forward-looking statements that involve risk and uncertainties, which may cause actual results to differ materially from the statements made. Such factors include, but are not limited to, changing market conditions, clinical trial results, the establishment of new corporate alliances, the impact of competitive products and pricing, the timely development, regulatory approval and market acceptance of the Company's products, and other risks detailed from time-to-time in the Company's filings with the US Securities and Exchange Commission and Canadian securities authorities |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion