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Gold/Mining/Energy : Nuvo Research Inc

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To: axial who wrote (9798)6/14/2002 9:10:28 AM
From: Montana Wildhack  Read Replies (3) of 14101
 
From Michael on stockhouse: (the bolding is mine)

Friday June 14, 07:25 AM
U.S. firm terminates osteoarthritis deal
NEW YORK (Reuters)
- Dimethaid Research says it has terminated a sales and marketing deal with Provalis Healthcare for distribution of a drug used to treat pain associated with osteoarthritis.

In January of last year, the company entered into a deal with Provalis (LSE: PRO.L - news) awarding the British company exclusive rights to market and distribute the Pennsaid drug in the United Kingdom where some 7 million people suffer from osteoarthritis.

In exchange for the rights, Provalis was expected to meet minimum sales targets by March. Dimethaid was entitle to terminate the contract if those targets were not achieved.

"We fully expected Pennsaid to be achieving greater sales and market penetration in the United Kingdom than has been the case to date," Dimethaid said in a release on Friday.

Provalis could not be immediately reached for comment.
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