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NEWS...
Wednesday November 19, 11:16 am Eastern Time
Company Press Release
SOURCE: IVAX Corporation
IVAX Receives World's First Approval for Beclomethasone in Non-CFC Inhaler
MIAMI, Nov. 19 /PRNewswire/ -- IVAX Corporation (Amex: IVX - news) today announced that its United Kingdom subsidiary, Norton Healthcare Limited, has received marketing clearance in France and Ireland for the world's first chlorofluorocarbon (CFC)-free metered-dose inhaler (MDI) for beclomethasone dipropionate, a corticosteroid indicated for the control of symptoms associated with chronic bronchial asthma. This environmentally friendly MDI uses a hydrofluoroalkane (HFA) in place of a CFC propellant; CFCs contribute to ozone depletion and are the subject of a treaty calling for their eventual ban. Norton Healthcare has applications for this product pending at the Medicine Control Agency in the United Kingdom and expects to file additional applications in other world markets.
''We are developing other respiratory products using CFC-free propellants and our goal is to have our line of MDI medications in CFC-free propelled inhalers ahead of the worldwide ban on CFC propelled asthma inhalers,'' said David R. Bethune, IVAX President and Chief Operating Officer.
Norton Healthcare intends to commercialize the HFA beclomethasone dipropionate MDI in Ireland directly, and is currently negotiating with a marketing partner to distribute the product in France.
The use of HFAs in pharmaceutical aerosols is the subject of various patents held by third parties throughout the world. In the United Kingdom, Norton Healthcare successfully invalidated certain patents held by 3M Company and 3M has filed an appeal which is pending. Norton Healthcare intends to challenge other patents which purport to cover the use of HFAs in pharmaceutical aerosols.
IVAX Corporation, headquartered in Miami, Florida, is a holding company with core subsidiaries engaged primarily in the research, development, manufacture and marketing of generic and branded pharmaceuticals.
Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties which may affect the company's business and prospects, including the risk that IVAX may not successfully commercialize its HFA inhaler due to, among other things, patents held by third parties or the failure to contract with a suitable marketing partner, and certain economic, competitive, governmental, technological and other factors discussed in IVAX's filings with the Securities and Exchange Commission.
SOURCE: IVAX Corporation
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