Launch of Redux includes co-promotion by Interneuron.LEXINGTON, Mass.--(BUSINESS WIRE)--June 13, 1996--Interneuron Pharmaceuticals Inc. (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 : IPIC IPIC Intellectual Property Institute of Canada IPIC Indianapolis Private Industry Council IPIC International Petroleum Investment Co (Abu Dhabi) IPIC Inventory Price Index Computation IPIC Information Processing Interagency Conference ) today announced the finalization of a three-year co-promotion agreement with Wyeth-Ayerst Laboratories, a division of American Home Products (NYSE NYSE See: New York Stock Exchange :AHP AHP Assistant House Physician. ), in connection with today's launch of Redux (dexfenfluramine hydrochloride capsules) C-IV C-IV Schedule IV Controlled Substance (USA) for marketing as prescription therapy for the management of obesity. Under terms of the agreement, Interneuron interneuron /in·ter·neu·ron/ (-noor´on) 1. a neuron between the primary sensory neuron and the final motoneuron. 2. will immediately begin promotion of Redux through a sales force of approximately 30 individuals. Interneuron's sales representatives will target defined physician specialists, including endocrinologists, diabetologists, bariatricians, nutritionists and weight management specialists. The agreement provides for cost and profit sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of in connection with the operation of Interneuron's sales force. Under a separate, previous agreement, Interneuron will also receive royalty and manufacturing payments from Wyeth-Ayerst. "The strategic importance of this agreement lies in the establishment of sales capabilities for Interneuron," said Glenn L. Cooper, M.D., president and chief executive officer of Interneuron. "The launch of Redux affords us an excellent opportunity to develop these capabilities, which will be leveraged in the years to come as our additional products become available." "The Interneuron sales force, recruited during the past several months from ranks of the pharmaceutical industry, brings significant marketing experience and a high level of commitment to the successful commercialization of the company's first pharmaceutical product," added Cooper. Interneuron Pharmaceuticals is a diversified biopharmaceutical company engaged in the development and commercialization of a portfolio of products and product candidates primarily for neurological and behavioral disorders. Interneuron is also developing products and technologies, generally outside the central nervous system field, through four subsidiaries: Intercardia Inc. focused on cardiovascular disease, Progenitor pro·gen·i·tor n. 1. A direct ancestor. 2. An originator of a line of descent. progenitor ancestor, including parent. progenitor cell stem cells. Inc. focused on developmental genomics, Transcell Technologies Inc. focused on carbohydrate-based drug discovery and drug transport, and InterNutria Inc. focused on dietary supplement products. Except for the descriptions of historical facts contained herein, this news release contains forward-looking statements that involve risks and uncertainties as detailed from time to time in Interneuron's SEC filings under the Securities Act of 1993 and the Securities Exchange Act of 1934. CONTACT: Interneuron Pharmaceuticals Glenn L. Cooper or William B. Boni, 617/861-8444 |
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