Bio-Technology General Corp. Signs Exclusive Agreement for Its Proprietary
Osteoarthritis Agent, BioHy, With Depuy
Updated 10:49 AM ET June 26, 2000
ISELIN, N.J. (BUSINESS WIRE) - Bio-Technology General
Corp. (NASDAQ:BTGC) today announced that it has entered
into an exclusive agreement with DePuy Orthopaedics Inc.
("DePuy"), a Johnson & Johnson Company (NYSE:JNJ), for
BioHy(TM), BTG's proprietary high molecular weight sodium
hyaluronate product, for the treatment of pain associated with
osteoarthritis of the knee.
DePuy, one of the world's leading orthopedic companies, focuses on products for total hip and
extremity implants, and total knee implants, as well as on surgical equipment and environmental
protection products.
The agreement grants DePuy exclusive marketing rights to BioHy in all countries worldwide except
Japan and Israel. Clinical efforts, where required, and applications for regulatory approvals will be
undertaken by DePuy in the licensed territory except in Europe, where BTG is currently conducting
a Phase III safety and efficacy study of the product. The randomized, double-blind study is
comparing BioHy with Synvisc(R), a well accepted commercial product in the European viscoelastic
market for osteoarthritis of the knee. Completion of the study, to be followed by a regulatory
submission for approval to market BioHy in Europe, is anticipated this year.
Sim Fass, Chairman and CEO of Bio-Technology General Corp., stated: "We are extremely
pleased to have forged this important relationship with such a strong leader worldwide in the
orthopedics arena. We believe that because of the alliance with DePuy, BioHy will be well
positioned to make a significant impact on the market for viscoelastic products for osteoarthritis."
Injections of sodium hyaluronate into the knee have been shown to reduce pain associated with
osteoarthritis of the knee by augmenting elastoviscosity within the joint. The current worldwide
market for viscoelastic products for osteoarthritis of the knee is approximately $400 million, and is
expected to grow as the aging population increases.
Bio-Technology General Corp., a leading biopharmaceutical company, develops, manufactures and
markets genetically engineered and other products for human health care. The Company's products
are marketed in over thirty countries worldwide.
Statements in this news release concerning the Company's business outlook or future economic
performance, anticipated profitability, revenues, expenses or other financial items; and statements
concerning assumptions made or expectations as to any future events, conditions, performance or
other matters, are "forward-looking statements" as that term is defined under the Federal Securities
Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could
cause actual results to differ materially from those stated in such statements. Such risks,
uncertainties and factors include, but are not limited to, changes and delays in product development
plans and schedules, customer acceptance of new products, changes in pricing or other actions by
competitors, patents owned by the Company and its competitors, and general economic conditions,
as well as other risks detailed in the Company's filings with the Securities and Exchange
Commission.
Contact: Investor Relations Don Weinberger Wolfe Axelrod Weinberger Associates 212-370-4500 or Leah
Berkovits Bio-Technology General Corp. 732-632-8800 |
