I found this recent information regarding reaquiring some marketing rights.... I'm not sure what it means.
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TheraTech reacquires certain marketing rights from SmithKline
Beecham
SALT LAKE CITY and PHILADELPHIA--(BUSINESS WIRE)--April 28, 1997-- TheraTech
Inc. (NASDAQ:THRT) and SmithKline Beecham (NYSE:SBH) Monday announced they have
agreed that TheraTech will reacquire the marketing rights to its male testosterone patch in those
countries where SmithKline Beecham is not currently marketing the product.
SmithKline Beecham (SB) will continue to market in North America, the United Kingdom and
Ireland while giving up their rights to the rest of Europe, Australia and New Zealand.
"We continue to be committed to the product in the countries where it is currently being
marketed," said Jerry Karabelas, executive vice president, SmithKline Beecham Pharmaceutical.
"However, due to changing priorities and strategic product positioning, we offered TheraTech the
opportunity to reacquire certain marketing rights. SB continues to evaluate other product
opportunities with TheraTech."
"We have been most pleased with SmithKline Beecham's marketing efforts in the U.S. and U.K.
and look forward to their successful launch of the new 5.0 mg single testosterone patch once
regulatory clearance is received," said Dinesh C. Patel, TheraTech's president and chief executive
officer.
"Reacquiring these marketing rights will allow us to further expand our strategic alliances. We
continue to enjoy a strong partner relationship with SB which we hope will expand over time."
TheraTech Inc., headquartered in Salt Lake City, is a leader in the development of innovative
products based on controlled release drug delivery technologies. Working independently, as well
as with corporate partners, the company has developed a wide range of drug delivery products,
including transdermal patches, oral transmucosal products for the delivery of peptide drugs, oral
controlled-release products and topical preparations.
Any statements released by TheraTech Inc. that are forward-looking including statements
regarding the timing of the introduction of the 5.0 mg product and expected expansion of strategic
alliances, especially with SB, are forward-looking statements and are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors
are cautioned that forward-looking statements involve risk and uncertainties that may affect the
company's business prospects and performance, including the risk that product introduction
schedules will not be met and that strategic relationships with SB may not materialize as expected.
This includes economic, competitive, governmental, technological and other factors discussed in
the company's filings with the Securities and Exchange Commission on forms 10-K, 10-Q and
8-K.
CONTACT: TheraTech Inc., Salt Lake City
Alexander L. Searl or Alan Behunin, 801/588-6200
or
SmithKline Beecham, Philadelphia
Media - Sharyn Arnold, 215/751-7074
Investor Relations - Richard Williams, 215/751-7002 |
