AMED Amedeo Res

RNS No 8312k
CHIROSCIENCE GROUP PLC
15 June 1999
 
 
           Chiroscience Finalises Global Marketing Arrangements
                              for Chirocaine
 
Cambridge, UK, June 15, 1999 - Chiroscience Group plc is pleased to
announce that it has licensed its long acting local anaesthetic Chirocaine
to Purdue Pharma L.P. for the U.S. and Abbott International for all markets
outside the US and Japan.  In Japan Chirocaine has already been licensed to
Maruishi Pharmaceutical Co. Ltd.  Today's agreements finalise the global
marketing arrangements for Chirocaine which is indicated for both
anaesthesia and pain management.
 
Purdue Pharma
Purdue Pharma L.P. is one of the fastest growing pharmaceutical companies
in the U.S. with sales growth of 46% in 1998 bringing total sales to $600
million.  Purdue's sales in the U.S. are expected to surpass $800 million
in 1999.  The company's lead pain management product OxyContin, (oxycodone
hydrochloride controlled-release), which was developed internally at Purdue
and is co-promoted with Abbott Laboratories, has been particularly
successful.  In 1998 U.S. sales of OxyContin more than doubled to over
$300m.  U.S. sales of OxyContin in 1999 are expected to exceed $500m.  This
growth along with the success of MS Contin (morphine sulfate controlled-
release) has given Purdue the leading position in the $765m U.S. market for
non-injectable strong opioid analgesics.
 
Purdue's sales and marketing resources have been expanded rapidly in recent
years and now comprise a 696 person field sales organisation calling on
primary care, speciality, and hospital-based physicians, with speciality
sales teams covering managed care and the nursing home/hospice sector.
 
Under the terms of the agreement, Purdue will be the exclusive marketer and
distributor of Chirocaine in the U.S., and Chiroscience will share equally
in the profits generated from Chirocaine in the U.S. market.  This 50:50
profit sharing structure means that once the initial marketing costs needed
to establish the product have been absorbed, Chiroscience expects to make
higher returns from Chirocaine in the U.S. than would have been achieved
under a normal royalty deal.
 
Abbott Laboratories
Abbott Laboratories is one of the world's leading healthcare companies and
1998 had sales of $12.5bn, approximately 40% of which came from Abbott
International.  Abbott markets products in over 130 countries.  Its major
business areas are pharmaceuticals, hospital and nutritional products and
diagnostics.
 
Abbott Laboratories has leading positions in several segments of the
hospital market, including perioperative and intensive care products.  The
company's cornerstone business in this segment is anaesthesia.  Abbott
markets the leading inhalation anaesthetic sevoflurane, along with a broad
line of other anaesthetic agents.  The global market for local anaesthetic
agents is in excess of $500m per annum.
 
Under the terms of the agreement, Abbott will pay Chiroscience royalties
based on pre-determined sales thresholds for Chirocaine.  Chiroscience will
benefit from higher royalty rates if the sales of Chirocaine exceed certain
targeted levels.  Under terms of the agreement, Abbott will be responsible
for product registration in its territories.
 
Dr John Padfield, Chief Executive of Chiroscience Group plc commented:
 
"Today's agreements with Purdue and Abbott finalise the global marketing
platform for Chirocaine.  We are extremely pleased that Chirocaine will be
sold in the U.S. by Purdue, a company that has clearly demonstrated its
ability to maximise the potential of pain management products in that
market.  Abbott International's strong franchise in anaesthetics and in
pain management along with Chirocaine's competitive profile should enable
sales of the product to be maximised outside the US and Japan.
 
Together these deals, along with our existing agreement with Maruishi for
Japan, should allow Chiroscience to achieve the optimal returns for its
shareholders from the commercialisation of Chirocaine once it gains further
regulatory approvals.  At present we are in the final stages of discussing
the Chirocaine label with the FDA and would hope for a final approval
shortly.  In Europe we are about to enter Mutual Recognition based on the
approval by the Medical Products Agency in Sweden in December 1998 and we
would anticipate receiving further approvals around the end of the year ".
 
Michael Friedman, Group Vice President of Purdue Pharma L.P., commented:
 
"We are very excited about the potential for Chirocaine to enhance further
our pain management franchise.  Our leading position in this market, which
has been established based on our proprietary products OxyContin) and MS
Contin), will be strengthened by this agreement with Chiroscience."
 
Robert L. Parkinson Jr., President and Chief Operating Officer Abbott
Laboratories, said:
 
"Abbott is pleased to partner with Chiroscience. Chirocaine provides a key
addition to our core anaesthetics business and strengthens Abbott's
historic leadership in the area of pain management."
 
For further information contact:

Dr John Padfield, Chief Executive               Giles Sanderson
Dr Andy Richards, Executive Director, Business  Victoria Springett
Development                                     Financial Dynamics
David Dible, Head of Media and Investor         Tel: +44 (0)171 831
Relations                                       3113
Chiroscience Group plc
Tel: +44 (0)1223 420430
http://www.chiroscience.com                     
                                                
Michael Friedman, Group Vice President
Purdue Pharma L.P.
Tel: 1-203-854-7290
                                                
Laureen Cassidy, Director International         
Communications
Abbott Laboratories
Tel: (847) 938-7743
 
Notes to Editors
Chiroscience Group plc is an emerging pharmaceutical company with two
distinct parts; Chiroscience R&D, the company's core pharmaceutical
products business, and the specialist service businesses, ChiroTech and
Rapigene.  Chiroscience R&D uses its 'gene-to-drug' skills base to discover
and develop innovative small-molecule pharmaceuticals for the treatment of
inflammation, pain, cancer, osteoporosis and auto-immune disease.
Chirocaine, its long-acting local anaesthetic is close to market.
ChiroTech is a profitable business that is a world leader in the provision
of specialist chiral chemistry services and products.  Rapigene is
commercialising its Masscode system for high-throughput genetic measurement
and analysis.
 
Chiroscience Group plc is listed on the London Stock Exchange and is based
in Cambridge and Stevenage, UK, and Seattle, Washington, USA.  Additional
information on Chiroscience can be accessed on the company's web site:
http://www.chiroscience.com.
 
Purdue Pharma L.P., headquartered in Norwalk, Connecticut, U.S and its
associated companies, including the Mundipharma companies and Napp
Pharmaceutical Group, Ltd., comprise a privately-held, worldwide
pharmaceutical network with discovery, development, manufacturing,
marketing and distribution capabilities.  The companies maintain a leading
presence in the field of pain management with their products OxyContin,
(oxycodone hydrochloride controlled-release) tablets and MS Contin
(morphine sulfate controlled-release) tablets.  The network also includes a
biologic therapeutics business, Purdue BioPharma L.P., based in Princeton,
New Jersey, which is focused on the development of antibody-based
therapeutics and vaccines.
 
Abbott Laboratories is a global, diversified health care company devoted to
the discovery, development, manufacture and marketing of pharmaceutical,
diagnostic, nutritional and hospital products.  The company employs 56,000
people and markets its products in more than 130 countries.  In 1998, the
company's sales and net earnings were $12.5 billion and $2.3 billion,
respectively, with diluted earnings per share of $1.51.
 

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