EU body OKs two drugs for Schering-Plough
Hailed as tools in world hepatitis, heart disease battle
By Lisa J Ulmer, CBS MarketWatch
Last Update: 8:09 PM ET Feb 27, 1999
MADISON, N.J. (CBS.MW) -- A European committee has recommended
approval of two Schering-Plough Corp. drugs, one for hepatitis C and
another for heart conditions, the company said Friday.
A committee for the European Agency for the
Evaluation of Medicinal Products issued positive
opinions of the pharmaceutical company's (SGP)
Rebetol (ribavirin) capsules to treat patients with
chronic hepatitis C, a potentially deadly liver disease,
and its Integrilin drug for the prevention of acute
coronary syndrome, a serious heart condition, the
company said.
The committee's opinion serves as the basis for a
European Commission approval, which is typically
issued four months later.
The U.S. Food and Drug Administration approved
Rebetol for use in the U.S. in June of 1998 and
Integrilin in May of the same year. Schering-Plough
markets Integrilin under license from developer
COR Therapeutics (CORR).
Shares of Schering-Plough rose 1 9/16 to to 55 11/16
Friday.
"This is a very positive step in the fight against
hepatitis C, a major world health problem," said ICN
Pharmaceuticals Inc. (ICN) chief executive Milan
Panic in a statement.
ICN, which developed ribavirin, has a licensing agreement with
Schering-Plough, in which the company can sell oral ribavirin to all major
world markets. ICN shares rose 9/16 to 21 7/8.
According to Schering-Plough, chronic hepatitis C
affects some 10 million people worldwide. Up to 5
million Europeans, or 1 percent to 2 percent, are
chronically infected with the hepatitis C virus,
according to a study conducted by the World Health
Organization.
In Europe, chronic hepatitis C is the leading cause of
chronic liver disease and the most common reason
for liver transplant, Schering-Plough said.
In the United States, Schering-Plough markets a
therapy containing Rebetol capsules for the
treatment of chronic hepatitis C in patients with
compensated liver disease.
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