Agreement with ASTRA.
Nice management step IMO.
Any thoughts?
Contact:
The Liposome Company, Inc.
Lawrence Hoffman, CFO
(609) 452-7060
Noonan Russo Communications
(212) 696-4455
Ernie Knewitz (media) ext. 204
Barbara Lindheim (investor) ext. 237
THE LIPOSOME COMPANY AND ASTRA USA
SIGN MANUFACTURING AGREEMENT
Princeton, N.J. -- April 22, 1998 -- The Liposome Company, Inc. (Nasdaq: LIPO) and Astra USA, Inc. have entered into a
three-year agreement in which The Liposome Company will manufacture Astra*s M.V.I.r-12 Unit Vial, an injectable
multi-vitamin product. This partnership represents an important step in The Liposome Company*s strategy of leveraging its
manufacturing and marketing resources to their fullest potential.
M.V.I.-12 Unit Vial is used by severely ill hospitalized patients in need of nutritional supplements. The Liposome Company will
manufacture the product at its Indianapolis manufacturing facility, taking advantage of its modern, large-scale capabilities. Under
the terms of the agreement, Astra USA will supply bulk quantities of the vitamin product and will market the finished product.
The Liposome Company will sterilize, fill, package and perform quality control on M.V.I.-12 Unit Vial for Astra USA. Financial
terms of the agreement were not disclosed.
*We are pleased that Astra USA has chosen The Liposome Company to manufacture M.V.I.-12 Unit Vial,* commented Charles
A. Baker, Chairman and Chief Executive Officer of The Liposome Company. *This is the first manufacturing partnership for our
company, and we believe that it will be beneficial for both parties. As part of our program to increase shareholder value, we will
continue to seek other similar arrangements.*
Astra USA, Inc., based in Westborough, Massachusetts, is a subsidiary of the international pharmaceutical company, Astra AB of
Sweden. Astra USA markets pharmaceutical products in four therapeutic areas: respiratory, cardiovascular, pain control/critical
care, and dental.
The Liposome Company is a biopharmaceutical company developing and marketing therapeutic products to treat cancer and
related diseases. ABELCETr (Amphotericin B Lipid Complex Injection) which has been approved in 19 countries, is marketed in
the United States for the treatment of severe, systemic fungal infections in patients who are refractory to or intolerant of
conventional therapy and is the leading lipid-based formulation of amphotericin B in this country. Preparations are underway to
file a New Drug Application in the U.S. for the Company*s second drug, EVACET* (formerly TLC D-99) liposomal doxorubicin,
to treat metastatic breast cancer. The Company*s product pipeline includes TLC*ELL-12 and bromotaxol for the treatment of
various cancers and programs focused on the development of new cancer therapies and vehicles for the delivery of gene therapy.
Except for historical information, this press release contains forward-looking statements that involve risks and uncertainties,
including but not limited to statements regarding the completion of future marketing or manufacturing contracts and the possibility
that any product of The Liposome Company can be successfully developed and commercialized. While these statements reflect
the best current judgment of The Liposome Company*s management, they are subject to risks and uncertainties that could cause
actual results to vary, including the risk factors identified in the Registration Statement on Form S-3 dated October 29, 1997 and in
The Liposome Company*s subsequent SEC filings. |
