SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : Biotech Valuation
CRSP 55.08-2.9%Dec 26 9:30 AM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: scaram(o)uche who wrote (1215)6/22/2000 9:26:00 PM
From: Biomaven  Read Replies (1) of 52153
 
Need to find something to say to avoid a duplicate post (SI screwing up tonight)...

Here's some more fallout from the PFE/WLA deal. This must be about the record low price for an approved drug in a big market:

Thursday June 22, 6:00 pm Eastern Time

First Horizon buys rights to Alzheimer's drug

ROSWELL, Ga., June 22 (Reuters) - First Horizon Pharmaceutical Corp.
(NasdaqNM:FHRX - news) said
on Thursday it bought worldwide rights to Alzheimer's treatment drug Cognex
from Warner-Lambert Co.
for $3.5 million.

Cognex has been approved by the U.S. Federal Drug Administration for the
treatment of mild to moderate
dementia associated with Alzheimer's disease.

First Horizon shares ended up 1/8 at 11-1/4 on the Nasdaq stock market.

First Horizon said the purchase was completed following U.S. Federal Trade
Commission approval of Pfizer Inc.'s (NYSE:PFE - news) takeover of
Warner-Lambert Co. (NYSE:WLA - news) on Monday. Warner-Lambert was required
to divest Cognex as part of an agreement to get regulatory approval of the
merger.

First Horizon said it also acquired rights to Cognex CR, a once-a-day
version of Cognex that still awaits FDA approval. Cognex itself must be
taken four times a day.

First Horizon said it will pay $1.5 million to Warner-Lambert if it
receives FDA approval to market Cognex CR.

As you've pointed out, however, not exactly a winner as drugs go ...

Peter
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News