Dressing things up for a sale?
Press Release Source: Cephalon, Inc.
Cephalon Reacquires Rights to Modafinil in Major European Markets
Wednesday December 18, 1:29 pm ET
Product Rights in Additional Countries Further Strengthens Cephalon's International Marketing Presence
WEST CHESTER, Pa., Dec. 18 /PRNewswire-FirstCall/ -- Cephalon, Inc. (Nasdaq: CEPH - News), an international biopharmaceutical company, announced that it has reacquired all rights to modafinil in Germany and Spain, two of Europe's largest pharmaceutical markets. Cephalon markets modafinil in the United States under the brand name PROVIGIL® (modafinil) tablets [C-IV].
The company reacquired rights to modafinil in Germany, Austria, Switzerland and certain countries in Central and Eastern Europe from Merckle GmbH, and in Spain from Cepa Schwarz Pharma. Financial terms of the agreements were not disclosed. Merckle and Cepa Schwarz Pharma acquired marketing rights to the drug from Laboratoire L. Lafon in 1993. Cephalon acquired Lafon in 2001.
"We have made tremendous progress this year in our strategy to consolidate worldwide rights for all of our marketed products," said Frank Baldino, Jr., Chairman and CEO of Cephalon. "Modafinil already is an important contributor to our European business in the United Kingdom and France. This marketing experience, together with the product's excellent performance in the United States, should enable us to effectively position modafinil in these additional European markets."
Modafinil is marketed in Europe for the treatment of excessive daytime sleepiness associated with narcolepsy, under the brand names PROVIGIL in the United Kingdom, MODIODAL® in France and Spain, VIGIL® in Germany, and MODASOMIL® in Austria and Switzerland. Earlier this month, Cephalon also received marketing approval in the United Kingdom to expand the label of PROVIGIL to treat excessive daytime sleepiness in patients with obstructive sleep apnea/hypopnea syndrome.
In the past year, Cephalon has significantly expanded its international business and now holds extensive European and Asian rights to the three products that it markets in the United States: PROVIGIL, ACTIQ, and GABITRIL. In October, Cephalon reacquired all rights to ACTIQ in 12 countries, principally in Europe. In January, 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 PROVIGIL. |
