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Biotech / Medical : Cambridge Antibody Technology Group

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To: tuck who wrote (367)	5/30/2003 10:11:39 AM
From: nigel bates	Read Replies (1) of 625

CAMBRIDGE, England, May 30 /PRNewswire-FirstCall/ -- Cambridge Antibody Technology (Nasdaq: CATG - News; LSE: CAT - News) today acknowledges the announcement made by Abbott Laboratories at a meeting held yesterday for investors and financial analysts. Abbott announced that it has raised its 2003 sales expectations for HUMIRA(TM) from more than $200 million to $250 million. Abbott also announced development progress with ABT-874 (formerly J695), discussing promising Phase II Crohn's disease data for ABT-874 and plans for a Phase II study in multiple sclerosis in the first half of 2004. HUMIRA was isolated and optimised by CAT in collaboration with Abbott, and CAT will receive royalties on the sales of HUMIRA. ABT-874 was also isolated and optimised by CAT and Abbott, and was licensed by CAT to Abbott under the same 1995 agreement between CAT and Knoll Aktiengesellschaft (now a subsidiary of Abbott Laboratories). CAT receives development milestone payments and will receive royalties on sales of ABT-874...

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