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Biotech / Medical : CEPH - CEPHALON
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To: Icebrg who wrote (78)11/12/2003 8:13:08 AM
From: Icebrg  Read Replies (1) of 109
 
CIMA LABS Announces Licensing Agreement with Taiho Pharmaceutical Company for OraVescent Fentanyl
Wednesday November 12, 8:07 am ET
Exclusive Agreement Covers License and Development in Japan of CIMA's Proprietary Medication for Breakthrough Cancer Pain

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Nov. 12, 2003-- CIMA LABS INC. (NASDAQ: CIMA - News) announced today that it has signed an exclusive agreement with Taiho Pharmaceutical Company (Taiho), a leading Japanese pharmaceutical company focused on oncology, for the license and development of its proprietary OraVescent® Fentanyl medication for breakthrough cancer pain for Japan. Under this agreement, CIMA would receive development and milestone payments as well as revenue from sales of the product to Taiho and royalty payments based on commercial sales volume. CIMA and Taiho will work together to obtain regulatory approval in Japan.

Steven Ratoff, CIMA's chairman and interim chief executive officer, commented: "This is the first licensing agreement we have signed for a product in our proprietary pipeline and a significant step forward in our proprietary product strategy. It also demonstrates the strength of CIMA's OraVescent® oral transmucosal drug-delivery technology. We are excited about the opportunities that exist for OraVescent® Fentanyl and look forward to the global development and marketing of this product."

The exclusivity of this agreement covers both the sublingual and buccal formulations of OraVescent® Fentanyl.
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