MedPointe And Sepracor Agree To Phase Out ASTELIN Co-Promotion; MedPointe's Enlarged Sales Force, Sepracor's Pending Estorra Approval Drive Decision to Sunset Collaboration.Business Editors/Health/Medical Writers SOMERSET, N.J.--(BUSINESS WIRE)--April 30, 2004 MedPointe and Sepracor Inc. today announced that they have amended their agreement for the co-promotion of MedPointe's ASTELIN(R) (azelastine HCl). Sepracor will continue to detail ASTELIN this spring and will receive compensation consistent with the terms of their agreement until June 30, 2004. As of July 1, 2004, Sepracor will only be responsible for providing sample coverage for ASTELIN under a fee-based compensation Fee-based compensation Payment to a financial adviser of a set hourly rate, or an agreed-upon percentage of assets under management, for a financial plan. When the plan is implemented, the adviser may also receive commission on some or all of the investment products purchased, program through the duration of the amended agreement. The amendment also creates accelerated termination rights for each party, which if exercised, would result in a one-time residual payment to Sepracor in recognition of Sepracor's contribution to building brand awareness of ASTELIN. Paul Edick, President of MedPointe, commented, "We have appreciated the assistance that Sepracor has given MedPointe in promoting ASTELIN and believe this amendment, which phases out our co-promotion agreement, is in the interest of both parties. Since we signed the original deal with Sepracor in August 2002, MedPointe has added three new sales forces, comprised of 260 new sales representatives, increasing our total to 560 field sales representatives. Of these three new field forces, one is a Specialty Allergy field force. Along with our strong Primary Care field presence, we are ready to resume full responsibility for the promotion of our ASTELIN brand. We wish Sepracor well in its launch of ESTORRA and the commercialization of its other brands." "ASTELIN has been a good strategic fit for our sales force, which has also detailed Sepracor's own respiratory product, XOPENEX(R), a nebulized beta-agonist," said W. James O'Shea, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. at Sepracor. "However, with the anticipated launch of ESTORRA(TM) (eszopiclone) for the treatment of insomnia insomnia, abnormal wakefulness or inability to sleep. The condition may result from illness or physical discomfort, or it may be caused by stimulants such as coffee or drugs. However, frequently some psychological factor, such as worry or tension, is the cause. , we are focusing our efforts on our own proprietary products." Sepracor 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 : SEPR SEPR Senior Enlisted Performance Report ) is a research-based pharmaceutical company dedicated to treating and preventing human disease through the discovery, development and commercialization of innovative pharmaceutical products that are directed toward serving unmet medical needs. Sepracor's corporate headquarters are located in Marlborough, Massachusetts Marlborough is a city in Middlesex County, Massachusetts, United States. The population was 36,255 at the 2000 census. The name of this town is sometimes spelled as Marlboro, rather than Marlborough, which is the official spelling. . For more information on Sepracor, visit www.sepracor.com. MedPointe Inc. is a privately held specialty pharmaceutical company located at 265 Davidson Avenue, Suite 300, Somerset, New Jersey Somerset is a census-designated place and unincorporated area located at the eastermost section within Franklin Township, in Somerset County, New Jersey. As of the United States 2000 Census, the CDP population was 23,040. Somerset housed one of the first Marconi Wireless Stations. , 08873-4120; 732-564-2200. Backed by private equity investors, including The Carlyle Group  The of this article or section may be compromised by "weasel words".You can help Wikipedia by removing weasel words. The Carlyle Group is a Washington, D.C. and The Cypress Group, MedPointe specializes in respiratory, allergy, central nervous system, and pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children. pe·di·at·ric adj. Of or relating to pediatrics. products. The Company maintains a manufacturing facility in Decatur, IL. For more information on MedPointe, visit www.medpointepharma.com. Astelin is a registered trademark of MedPointe Inc. Estorra is a trademark and Xopenex is a registered trademark of Sepracor Inc. |
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