FUJISAWA USA, INC. WILL CONTINUE TO DEFEND ITS ADENOSCAN AGREEMENT WITH MEDCO RESEARCH, INC.
DEERFIELD, Ill., July 26 /PRNewswire/ -- In response to the July 23 announcement by Medco Research, Inc. (AMEX: MRE) of its intention to partner with Abbott Laboratories (NYSE: ABT) in the manufacture of Adenoscan, Fujisawa USA, Inc. (FUSA) today announced that it will continue to defend its original 1988 development and license agreement with Medco for the drug, which is used for the detection of heart disease. "We maintain our belief that FUSA has in no way breached the terms of the 1988 Agreement," said Gary Schmidt, vice president, general counsel and secretary of FUSA. FUSA today notified Medco by letter of its position that its proposed agreement with Abbott Laboratories violated FUSA's rights under the 1988 Agreement. The letter further stated that FUSA "will hold Medco fully liable for any and all damages ensuing" from Medco's actions and reserved the right to seek injunctive relief where appropriate. Schmidt emphasized that FUSA will continue to defend the exclusive manufacturing and marketing rights granted it in the original contract. Fujisawa USA, Inc., headquartered in Deerfield, Ill., is a manufacturer of proprietary and multi-source pharmaceutical products and a subsidiary of Fujisawa Pharmaceutical Co., Ltd. based in Osaka, Japan. -0- 7/26/93 /CONTACT: Paula Waters of Fujisawa USA, Inc., 312-329-7532/ (MRE ABT)
CO: Fujisawa USA, Inc.; Medco Research, Inc. ST: Illinois IN: MCT SU:
TM -- NY112 -- 5974 07/26/93 20:44 EDT
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|Date:||Jul 26, 1993|
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