IPIC Message Board - Msg: 12389023

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Biotech / Medical : IPIC

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Aug 15 3:35 PM EST

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To: David D. Long who wrote ()	12/27/1999 12:09:00 PM
From: KS	Read Replies (1) of 1359

Hope nobody sold their IPIC for tax loss! Monday December 27 10:30 AM ET Warner-Lambert, Interneuron in Pact LEXINGTON, Mass. (Reuters) - Interneuron Pharmaceuticals Inc. (NasdaqNM:IPIC - news) said on Monday it has licensed to Warner-Lambert Co. (NYSE:WLA - news) worldwide rights to its experimental drug pagoclone, for treating panic and anxiety disorders. Under the agreement, Warner-Lambert will pay Interneuron up to $73.75 million in an up-front payment and milestones. Warner-Lambert will conduct and fund all further clinical development, manufacturing and marketing of pagoclone for all indications. Warner-Lambert will also pay Interneuron royalties on net sales of pagoclone in the United States and abroad. The first two target disorders for which clinical programs will be conducted are expected to be panic disorder and generalized anxiety disorder, Interneuron said. Pivotal clinical trials in these programs are anticipated to begin in 2000. Shares of Interneuron were up 1/4 at 4-3/4. Warner-Lambert was down 13/16 at 84-5/16. Info on 50,000+ Companies! (Enter Name or Ticker)

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