Mylan's New Patents Will Significantly Enhance Value of EMSAM
Wednesday March 31, 6:30 am ET
PITTSBURGH--(BUSINESS WIRE)--March 31, 2004--Mylan Laboratories Inc. (NYSE: MYL - News) announced today that its subsidiary Mylan Technologies Inc. (MTI) has received notices of allowance from the U.S. Patent and Trademark Office for two patents. These patents when issued will contain claims with respect to the transdermal administration of selegiline and other potential drug products.
MTI granted Somerset Pharmaceuticals Inc., which is jointly owned by Mylan and Watson Pharmaceuticals, an exclusive license to the patents with respect to the transdermal delivery of selegiline, the active ingredient in Somerset's EMSAM(TM).
MTI retains the rights to the patented technology with respect to any other compounds, which can be formulated for transdermal delivery.
Mylan Vice Chairman and CEO, Robert J. Coury, stated, "The allowance of these two patents is an important milestone with respect to EMSAM, which is currently under FDA review. These patents significantly enhance the value of the EMSAM opportunity and provide us with a much clearer picture of the potential market for EMSAM, not only at launch, but for years to come."
EMSAM incorporates selegiline into a pressure sensitive adhesive formulation for the transdermal delivery of therapeutically effective amounts of the drug. Somerset is currently engaged in active discussions with a potential licensee who would market and distribute the product. |
