Cephalon Reacquires Rights to ACTIQ(R) in Key European Markets; Deal Further Strengthens International Marketing Presence
Thursday October 3, 2:00 am ET
WEST CHESTER, Pa., Oct. 3 /PRNewswire-FirstCall/ -- Cephalon, Inc. (Nasdaq: CEPH - News), an international biopharmaceutical company, announced today that it has reacquired all rights to its cancer pain product ACTIQ® (oral transmucosal fentanyl citrate) [C-II] in 12 countries, principally in Europe, from Elan Pharma International Limited, a subsidiary of Elan Corporation, plc (NYSE: ELN - News).
Under the agreement, Cephalon reacquired rights to ACTIQ in Austria, Belgium, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Switzerland, United Kingdom, Philippines, and Taiwan and paid Elan $50 million in cash. Cephalon already markets ACTIQ in the United States and will market the drug directly in the UK, Germany, and France.
ACTIQ was granted marketing authorization in 16 European countries in June 2001 via the EU Mutual Recognition Procedure. ACTIQ had been marketed by Elan in the United Kingdom since January 2001 and in Germany and Ireland since early 2002. Elan acquired ACTIQ marketing rights from Anesta Corp. in December 1999. Cephalon acquired Anesta in October 2000.
"By reacquiring ACTIQ rights, we achieve another milestone in our strategy of consolidating worldwide rights to our key products," said Frank Baldino, Jr., Chairman and CEO of Cephalon. "Our experience with ACTIQ will enable us to effectively position the product in these European territories. We believe ACTIQ will be an important product for our European business."
In the United States, prescriptions and sales of ACTIQ are projected to double this year compared to 2001, making ACTIQ one of the fastest growing drugs in Cephalon's product portfolio. For the six months ended June 30, 2002, Cephalon reported sales of ACTIQ were $47.8 million, a 193 percent increase over sales of $16.3 million in the first half of 2001.
In the past year, Cephalon has expanded its international business and now holds European and Asian rights to all three of its U.S. products: PROVIGIL® (modafinil) tablets [C-IV], ACTIQ, and GABITRIL® (tiagabine hydrochloride). In January 2002, Cephalon acquired worldwide rights to GABITRIL (excluding Canada, Latin America, and Japan). In December 2001, Cephalon purchased Laboratoire L. Lafon and acquired control of worldwide rights to its flagship product PROVIGIL.
ACTIQ
ACTIQ is the first drug approved for the management of breakthrough pain. ACTIQ is indicated for patients with malignancies who are already receiving and who are tolerant to opioid therapy for their underlying persistent cancer pain. ACTIQ utilizes a novel oral transmucosal system (OTS(TM)) that delivers the potent pain reliever fentanyl using a soluble lozenge that is attached to a handle and rubbed by patients on the inside of their cheeks. Side effects are typical of all opioid products and include somnolence, nausea, vomiting, and dizziness.
Cephalon, Inc.
Founded in 1987, Cephalon, Inc. is an international biopharmaceutical company dedicated to the discovery, development and marketing of innovative products to treat sleep and neurological disorders, cancer and pain.
Cephalon currently employs more than 1,200 people in the United States and Europe. U.S. sites include the company's headquarters in West Chester, Pennsylvania, and offices and manufacturing facilities in Salt Lake City, Utah. Cephalon's major European offices are located in Guildford, England, Munich, Germany, and at Laboratoire L. Lafon in Maisons-Alfort, France. |
