ROBERTS PHARMACEUTICAL ACQUIRES EXCLUSIVE WORLDWIDE RIGHTS TO NEW ANALGESIC DRUG
ROBERTS PHARMACEUTICAL ACQUIRES EXCLUSIVE WORLDWIDE RIGHTS
TO NEW ANALGESIC DRUG
EATONTOWN, N.J., Dec. 3 /PRNewswire/ -- Roberts Pharmaceutical Corporation (NASDAQ: RPCX) announced earlier today that it has entered into a definitive agreement with Serotonin Industries, of Charleston, S.C. for exclusive rights to SP-186, an analgesic agent intended for use in the management of moderate to severe chronic pain. SP-186 is currently in Phase I trials in the U.S. and preliminary studies in cancer patients have demonstrated potential clinical efficacy. Based on serotonin pharmacology, SP-186 is believed to exert its analgesic effect in part by increasing inter-neuronal concentrations of the neurotransmitter, serotonin. SP-186 also possesses serotonin specific re-uptake inhibitor activity and direct serotonin agonist activity. In addition to SP-186, Roberts was granted exclusive worldwide rights to Biamine(TM), a drug for the treatment of certain drug addictions, appetite suppression and obesity. Biamine is currently in preclinical development.
Roberts anticipates that funding for the development of SP-186 will be provided by third party sources and any profits generated would be shared between Roberts and Serotonin. "This interesting and potentially important new analgesic fits into our strategy to develop a franchise in the area of pain management," commented Roberts CEO and chairman, Dr. Robert A. Vukovich. "We currently have a new analgesic drug in clinical trials called Dirame, and SP-186 will compliment our developmental efforts for Dirame," he continued.
Roberts Pharmaceutical Corporation is engaged in the business of acquiring, developing and marketing human pharmaceuticals in the United States and abroad. The company is developing late stage pharmaceuticals for the treatment of cancer, respiratory disease, endocrine disorders, pain management, cardiovascular and urologic conditions. Roberts currently markets a line of prescription and non-prescription pharmaceuticals in the United States and abroad.
/CONTACT: Anthony P. Maris of Roberts Pharmaceuticals Corporation, 908-389-1182/
(RPCX) CO: Roberts Pharmaceutical Corporation ST: New Jersey IN: MTC SU: LIC SM-KW -- NY045 -- 8758 12/03/91 12:34 EST