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Biotech / Medical : Celgene-CELG

CELG 108.24

0.0%

Nov 22 4:00 PM EST

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To: Vector1 who wrote (480)	12/27/2000 8:19:45 AM
From: rkrw	Read Replies (2) of 804

I would just mirror V1's comments: <<<<The CELG/Novartis deal on ADD is one of the best I have ever seen for a biotech. CELG royalty is for all Novartis products in this area. Novartis still has significant marketing power and will in this area.>>>> This may have been the best single drug licensing I've seen in biotech. Moderate success with the Novartis family of ritalin products should be enough to drive Celgene shares. A true reduction in ritalin side effects should be highly marketable. That said, it's important for NVS/CELG to introduce the extended release version so as to be on equal or superior footing to Concerta. I'm not clear on the timing of filing for the once daily. Wednesday December 27, 8:00 am Eastern Time Press Release SOURCE: Celgene Corporation Celgene Corporation's New Drug Application for D-Methylphenidate Filed at FDA; Milestone Triggers $5 Million Payment to Celgene WARREN, N.J., Dec. 27 /PRNewswire/ -- Celgene Corporation (Nasdaq: CELG - news) announced today that the U.S. Food and Drug Administration (FDA) has accepted for filing the New Drug Application (NDA) for d-methylphenidate (d-MPH), Celgene's chirally pure version of Ritalin®. This represents the FDA's official acceptance of the NDA for review. It is expected that the review will be completed in the third quarter of 2001. Under Celgene's worldwide license with Novartis Pharma AG, this milestone triggers a $5 million payment to Celgene.

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