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DURAMED AND SCHEIN SIGN LETTER OF INTENT FOR CONJUGATED ESTROGENS DEVELOPMENT

 DURAMED AND SCHEIN SIGN LETTER OF INTENT FOR
 CONJUGATED ESTROGENS DEVELOPMENT
 CINCINNATI, March 2 /PRNewswire/ -- E. Thomas Arington, chairman and president of Duramed Pharmaceuticals, Inc., and Martin Sperber, chairman of Schein Pharmaceutical Inc., today announced the signing of an agreement in principle for the development, manufacturing and marketing of a new formulation of Conjugated Estrogens Tablets, the generic equivalent to the brand product Premarin. This new formulation will be designed to meet bioequivalence guidance established by the FDA in late 1991.
 Under the agreement, Schein will provide project funding and technical assistance while Duramed will be responsible for product development and manufacturing. Both firms will participate in the marketing and distribution of the Conjugated Estrogens products after receiving FDA approval. An application for such approval will be submitted after successful completion of bioequivalence testing.
 "I am extremely pleased by this alliance with one of the major forces in our industry," Arington stated. "Both firms bring key strengths to this joint effort to pursue what is currently one of the largest generic product opportunities.
 "Introduction of the generic Conjugated Estrogens Tablets will make estrogen replacement therapy affordable for a large and growing number of patients," Arington said.
 Arington went on to state, "The company is continuing in its efforts to reach agreements for the refinancing of the company."
 Sperber said, "We are pleased to be in a position to use Schein Pharmaceutical's resources to assist in the development of generic Conjugated Estrogens and the subsequent market introduction into such an important therapeutic segment."
 Schein Pharmaceutical is a leading manufacturer of pharmaceuticals and the only U.S. multisource company with extensive capabilities for the production of oral solid, parenteral and ophthalmic dosage forms. Schein, through its manufacturing operations, Danbury Pharmacal and Steris Laboratories, manufactures more than 425 pharmaceutical products - more than any other multisource company.
 Duramed Pharmaceuticals, Inc. manufactures and sells generic drug products composed of various dosages of prescription and over-the-counter drugs.
 -0- 3/2/92
 /CONTACT: E. Thomas Arington or Timothy J. Holt, both of Duramed Pharmaceuticals, 513-731-9900/ CO: Duramed Pharmaceuticals; Schein Pharmaceuticals ST: Ohio; New York IN: MTC SU: JVN


KK -- CL023 -- 4031 03/02/92 13:56 EST
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Publication:PR Newswire
Date:Mar 2, 1992
Words:360
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