Aviron Receives $10 Million Payment for Flumist(TM) Manufacturing
C. Boyd Clarke Named Chairman of Aviron Board of Directors
MOUNTAIN VIEW, Calif., Jan. 8 /PRNewswire/ -- Aviron (Nasdaq: AVIR - news) today announced that it received a $10 million payment from American Home Products Corporation (NYSE: AHP - news) to support commercial manufacturing and inventory build-up of FluMist(TM) for a potential product launch during the 2001-2002 influenza season. This payment is an advance for payments AHP owes Aviron under the companies' global collaboration agreement for FluMist(TM).
The U.S. Food and Drug Administration (FDA) is currently reviewing a Biologics License Application for FluMist(TM) seeking marketing approval for the prevention of influenza in healthy children and healthy adults.
``We are delighted that our partners at American Home Products have provided their financial support for FluMist(TM) to assist in the commercial production already underway. These manufacturing activities are essential for us to execute a product launch during the 2001-2002 influenza season if we receive marketing clearance from the FDA,'' said C. Boyd Clarke, Aviron president and chief executive officer.
Aviron also announced today that Mr. Clarke has been elected chairman of the board of directors. He succeeds J. Leighton Read, M.D., Aviron's founder, who will remain on Aviron's board of directors.
``Boyd Clarke's election to chair Aviron's board reflects our appreciation for the progress the company has made under his first year of leadership and the confidence we have in his ability to continue Aviron's transition into a commercial stage company,'' Read said.
Aviron is a biopharmaceutical company based in Mountain View, California, focused on the prevention of disease through innovative vaccine technology.
Actual results may differ materially from the forward-looking statements contained in this release. Factors that could cause actual results to differ include, but are not limited to, the assessment by regulatory agencies that the company's license applications for its nasal influenza vaccine are incomplete or inadequate to approve the product for marketing to one or more target populations. Additional information concerning factors that could cause such a difference is contained in Aviron's SEC filings, including its recent Registration Statements on Form S-3 and Annual Report on Form 10-K for the year ended December 31, 1999.
To receive an index and copies of recent press releases, call Aviron's News-On-Call toll-free fax service, 800-758-5804, extension 114000. Additional information about the company can be located at aviron.com .
SOURCE: Aviron |
