NPRO ANDA FILED
NPRO should be approved to sell in about 6 months... Abbott is the marketing arm for NPRO's taxol product... With an existing 1.7 billion dollar US market for Taxol, and NPRO's improved formulation that makes the NPRO taxol more tolerable/desirable for patients than BMY's product, we see big rev and big earnings for this one...
biz.yahoo.com
We looove this one...
Abbott Laboratories and NaPro BioTherapeutics File Paclitaxel ANDA
ABBOTT PARK, Ill., and BOULDER, Colo., March 6 /PRNewswire/ -- Abbott Laboratories (NYSE: ABT - news) and NaPro BioTherapeutics, Inc. (Nasdaq: NPRO - news) announced today that they have filed an Abbreviated New Drug Application (ANDA) with the U.S. Food and Drug Administration (FDA) for paclitaxel, the most widely used anticancer compound in the United States.
``Abbott is building a superior portfolio of oncology products,'' said Christopher B. Begley, senior vice president, hospital products, Abbott Laboratories. ``Submitting the paclitaxel ANDA is a major milestone in Abbott's plan to expand our presence in the oncology market.''
``We are very hopeful that soon oncologists and cancer patients in the United States will have another high quality paclitaxel option,'' commented Leonard P. Shaykin, chairman and chief executive officer, NaPro BioTherapeutics.
Abbott Laboratories is a global, diversified health care company devoted to the discovery, development, manufacture and marketing of pharmaceutical, diagnostic, nutritional and hospital products. Including employees from BASF's pharmaceutical business, the company now employs approximately 70,000 people and markets its products in more than 130 countries. In 2000, the company's sales and net earnings were $13.7 billion and $2.8 billion, respectively, with diluted earnings per share of $1.78.
Abbott's news releases and other information are available on the company's Web site at www.abbott.com .
NaPro BioTherapeutics, Inc., headquartered in Boulder, Colo., is a biopharmaceutical company focused on the development, production and licensing of complex natural product pharmaceuticals as well as the development and licensing of novel genetic technologies for applications in agribiotechnology, pharmacogenomic, and human therapeutic and diagnostic applications.
NaPro BioTherapeutics, Inc. Forward-Looking Statement
Except for the historical matters contained herein, statements in this press release are forward looking. Such forward-looking statements include the likelihood that soon oncologists and cancer patients will have another paclitaxel option. Such forward-looking statements involve known and unknown risks that may cause actual results of NaPro to be materially different from the results suggested by such forward-looking statements. Among the factors that could affect matters are all aspects of competition from Bristol-Myers Squibb Company and other producers of paclitaxel and other drugs, delays with regulatory authorities, limitations on the ability to market NaPro paclitaxel because of the intellectual property rights of third parties, and the amount and timing of paclitaxel sold to NaPro's marketing partners. Reference is also made to other factors discussed in NaPro's quarterly report on Form 10-Q for the quarter ended September 30, 2000, its annual report on Form 10-K for the year ended December 31, 1999 and its registration statement filed December 1, 2000. These factors are not intended to be an all-inclusive enumeration of the business risks faced by NaPro. Statements included in this press release represent NaPro's views as of the date of this release, and it should not be assumed that the statements made herein remain accurate as of any future date. NaPro does not intend to update these statements and undertakes no duty to any person to effect any such update under any circumstance.
SOURCE: Abbott Laboratories |
