ELAN'S ONCE-DAILY FORMULATION OF NAPROXEN LICENSED TO SYNTEX IN THE U.K.
ATHLONE, Ireland, Jan. 7 /PRNewswire/ -- Elan Corporation plc. (AMEX: ELN) and Drug Research Corporation plc. (AMEX: ELR) today announced that they have reached agreement with Syntex (U.K.) Ltd. to market Elan's once-daily formulation of Naproxen in the United Kingdom and Ireland. Naproxen is a non steroidal, anti-inflammatory drug (NSAID) used for the treatment of arthritis. Elan's formulation uses the company's proprietary IPDAS(TM) (Intestinal Protective Drug Absorption System) technology to reduce gastrointestinal side effects associated with the drug. In a comment on this announcement, Elan's Chairman and Chief Executive Officer, Donald E. Panoz, stated that "the company is looking forward to having this product, with its advanced technology, launched in the United Kingdom." As part of Elan's development agreement with Drug Research Corporation, DRC is entitled to receive a royalty from Elan of 3 percent of net sales of Naproxen in the United Kingdom and Ireland. Clinical trials are currently underway in the United States for this product under the supervision of Elan pursuant to its agreement with DRC. Patent protection for Naproxen (currently held by Syntex) expires in the United States at the end of 1993. IPDAS is a specialized multiparticulate high density bead system which Elan has developed specifically to minimize the adverse gastrointestinal effects commonly encountered with certain irritant drug compounds, the most notable of which are NSAIDs and antibiotics. "We applied Elan's specialized experience and skills in polymer- membrane delivery systems to create this more effective and convenient once-daily formulation of an important pharmaceutical treatment," said Mr. Panoz. Elan Corporation plc. is a world leader in the specialized health care field of advanced reformulations and drug delivery, concentrating on improved drug absorption and utilization. Elan operates research and manufacturing facilities in Athlone; Gainesville, Ga.; Brea, Calif., and Cambridge, Mass. in the United States; Enschede, Netherlands; Manila, Philippines and Mezzovico, Switzerland. Currently 20 Elan products have received regulatory approval for marketing in one or more of 38 countries worldwide. -0- 1/7/93 /CONTACT: Brian Crotty, vice president - communications, 800-252-3526, or Donald Panoz, chairman and chief executive officer, 011-353-902-94666, both of Elan Corporation plc.; Debra Wasser or Pen Pendleton of Dewe Rogerson, Inc., 212-688-6840, for Elan/ (ELN ELR)
CO: Elan Corporation plc; Drug Research Corporation plc ST: IN: MTC SU: LIC
SH-OS -- NY024 -- 2553 01/07/93 10:02 EST
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|Date:||Jan 7, 1993|
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