Barr Names MGI PHARMA, INC. to Market MYLOCEL(TM) Tablets
Hydroxyurea Product Launched Under a Brand Name, Gets Established Oncology Sales Force
POMONA, N.Y., Jan. 25 /PRNewswire/ -- Barr Laboratories, Inc. (NYSE: BRL - news) today
announced that it has signed an exclusive agreement with MGI PHARMA, INC., (Nasdaq: MOGN -
news) covering the Company's proprietary Hydroxyurea 1000 mg Tablets which will be marketed under
the MYLOCEL(TM) brand name. Under the terms of the agreement, MGI PHARMA will begin
marketing MYLOCEL Tablets in March to oncologists and hematologists using their 50 person sales
organization. Barr will receive royalty payments based on the profits derived from the sales of the
product.
``The combination of our innovative therapy and MGI PHARMA's established oncology sales force
represents a major milestone for our proprietary drug program,'' said Bruce L. Downey, Barr's Chairman
and CEO. ``MGI PHARMA's sales force will educate physicians about how our product can simplify
drug therapy and enhance patient compliance. Prior to the introduction of our product, many patients
were dosed using a larger number of capsules each day because the highest dosage strength available
was a 500 mg capsule.''
``As we continue to develop additional proprietary products that will also require marketing to
physicians, we look forward to exploring further avenues for collaboration with MGI PHARMA and
their established oncology sales organization,'' Downey added.
``MGI PHARMA is very pleased to be selected by Barr Laboratories to be the exclusive marketer of
this innovative therapy,'' said Lonnie Moulder, MGI PHARMA's Executive Vice President.
``MYLOCEL Tablets is yet another solid addition to our expanding portfolio of approved oncology
products, and will provide great synergy for our sales and marketing efforts with our existing and future
oncology product offerings.''
The Company, and MGI PHARMA will continue to evaluate launch strategies for the Hydroxyurea 250
mg Capsules product.
Barr Laboratories, Inc. is a specialty pharmaceutical company engaged in the development, manufacture
and marketing of generic and proprietary pharmaceuticals.
MGI PHARMA, INC. is an oncology focused pharmaceutical company. It acquires, develops and
commercializes differentiated pharmaceutical products that meet patient needs. MGI PHARMA focuses
its sales efforts solely in the United States and collaborates with other pharmaceutical or biotechnology
companies for its products in international markets.
Safe Harbor Statement: To the extent that any statements made in this release contain information that is
not historical, these statements are essentially forward-looking. These statements are subject to risks and
uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements. Such risks and uncertainties
include: the timing and outcome of legal proceedings; the difficulty of predicting the timing of U.S. Food
and Drug Administration (``FDA'') approvals; the difficulty in predicting the timing and outcome of FDA
decisions on patent challenges; market and customer acceptance and demand for new pharmaceutical
products; ability to market proprietary products; the impact of competitive products and pricing; timing
and success of product development and launch; availability of raw materials; the regulatory environment;
fluctuations in operating results; and other risks detailed from time-to-time in the Company's filings with
the Securities and Exchange Commission. Forward-looking statements can be identified by the use of
words such as ``expects,'' ``plans,'' ``will,'' ``believes,'' ``estimates,'' ``intends,'' ``may'' and other words
of similar meaning. Should known or unknown risks or uncertainties materialize, or should the Company's
assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company
undertakes no obligation to publicly update any forward-looking statements.
SOURCE: Barr Laboratories, Inc. |
