AMED Amedeo Res

RNS No 8313m
CHIROSCIENCE GROUP PLC
15 June 1999
 
 
                  Chiroscience and Abbott Laboratories Sign
                     Licensing Agreement for Chirocaine
 
-- Abbott to promote Chirocaine (levobupivacaine) for international markets -
 
CAMBRIDGE, ENGLAND and ABBOTT PARK, Ill. USA, June 15, 1999 -- Chiroscience
Group plc and Abbott Laboratories announced today that the companies have
signed a licensing agreement for Chiroscience's long-acting local anaesthetic
Chirocaine (levobupivacaine). Under the terms of the agreement, Abbott will
have exclusive rights to market Chirocaine, worldwide, excluding the United
States and Japan.
 
Chirocaine is an isomer derivative of the well-established local anaesthetic
bupivacaine.  Chirocaine was developed by Chiroscience for use in acute pain
management following a wide range of surgical procedures, for pain relief
during labour and childbirth, and for chronic pain management.  Chirocaine
can be combined with other commonly used pain medications, including
fentanyl, clonidine, and morphine, following major surgery, including
abdominal and orthopaedic procedures.
 
Chirocaine has been approved by the regulatory authorities in Sweden and has
received an approvable letter from the U.S. FDA. Clinical trials with
Chirocaine have been completed in the U.S., Europe, Canada, Australia and New
Zealand.
 
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 threshholds 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:
"Chirocaine's competitive profile and superior long-acting properties along
with Abbott's strong franchise in anaesthetics creates an excellent
opportunity to maximise sales worldwide.  The agreement with Abbott puts in
place a key element of the global marketing platform for Chirocaine."
 
"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," said Robert L. Parkinson Jr.,
President and Chief Operating Officer, Abbott Laboratories.
 
For further information contact:
Dr John Padfield, Chief Executive              Giles Sanderson
Dr Andy Richards, Executive Director,          Victoria Springett
Business Development                           Financial Dynamics
David Dible, Head of Media and Investor        Tel: +44 (0)171 831 3113
Relations
Chiroscience Group plc
Tel: +44 (0)1223 420430
http://www.chiroscience.com                    
                                               
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.
 
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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