DRAXIS Licenses European Marketing Rights for Anipryl to Ceva Sante Animale.Business Editors/Health/Medical Writers MISSISSAUGA, Ontario--(BUSINESS WIRE)--July 17, 2003 DRAXIS Health Inc. (Nasdaq:DRAX) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :DAX), through its animal health subsidiary, has granted an exclusive license for Europe to Ceva Sante Animale for the marketing and distribution of Anipryl(R) or the use of approved Anipryl(R) claims. Anipryl(R) is a selegiline product from DRAXIS for treating cognitive disorders in dogs. Under the terms of the agreement, Ceva has the right to promote approved Anipryl(R) indications in Europe. Ceva currently markets a selegiline product in Europe known as Selgian(R), which is indicated for the treatment of behavioural problems of emotional origin in dogs. Anipryl(R) is indicated for the treatment of canine canine or canid Any domestic or wild dog or doglike mammal (e.g., wolf, jackal, fox) in the family Canidae, found throughout the world except in Antarctica and on most ocean islands. Cushing's disease Cushing's disease: see Cushing, Harvey Williams. and canine cognitive dysfunction syndrome ("CDS"). The agreement further provides for Ceva to pay the DRAXIS subsidiary a percentage royalty on European sales of Anipryl and/or the use of Anipryl(R) claims, in addition to nominal milestone payments upon the regulatory approval of Anipryl(R) in the U.K. and in subsequent additional jurisdictions within the European Community European Community: see European Union. European Community (EC) Organization formed in 1967 with the merger of the European Economic Community, European Coal and Steel Community, and European Atomic Energy Community. . DRAXIS and Ceva have also mutually agreed to discontinue the existing opposition proceedings An opposition proceeding is an administrative process available under the patent and trademark law of most jurisdictions which allows third parties to dispute the validity of a granted patent or trademark. between the parties that are before the European Patent Office relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc respective Selgian(R) and Anipryl(R) patent claims. About DRAXIS Health Inc. DRAXIS Health Inc. is a specialty pharmaceutical company involved in the development, production, marketing and distribution of therapeutic and diagnostic radiopharmaceuticals through DRAXIMAGE Inc. and in the provision of pharmaceutical contract manufacturing services, specializing in liquid and freeze-dried injectables and other sterile products through DRAXIS Pharma Inc. DRAXIS Health employs nearly 400 staff and reported sales in excess of US$38 million in 2002. Except for historical information, this news release contains certain 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 as amended, which involve risk and uncertainties that may cause actual results to differ materially from the statements made. Such factors include, but are not limited to, timely regulatory approval of the Company's products, the ability to obtain and enforce effective patents, the establishment and maintenance of new corporate alliances, compliance with appropriate governmental regulations, and other risks detailed from time-to-time in the Company's filings with the US Securities and Exchange Commission and Canadian securities authorities. The Company does not undertake to update such forward-looking statements to reflect new information, later events or developments. |
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