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Biotech / Medical : ABT - Abbott Labs -- Ignore unavailable to you. Want to Upgrade?

To: Victoria Walley who wrote (267)	5/31/2000 10:29:00 AM
From: Skywatcher	Respond to of 328

Abbott sues Boston hospital over cancer treatment BOSTON, May 31 (Reuters) - Drug making firm Abbott Laboratories Inc (NYSE:ABT - news) has sued Boston's Children's Hospital and one of its top cancer researchers claiming that they falsely took credit for a medical development in treating malignant tumours, the Boston Globe reported on Wednesday. The case relates to developing therapies that seek to shrink and kill tumours by cutting off their blood supply. Abbott filed suit in U.S. District Court in Boston and claims that Dr. Judah Folkman and his team of doctors ``fraudulently'' told U.S. patent reviewers that he discovered tumour-inhibiting properties in a protein known by scientists as Kringle 5. Abbott says that one of its scientists actually made the breakthrough and that the company rightfully owns the patent. The Illinois-based drug company also says that Folkman took the Abbott's research and, in violation of a confidentiality agreement, tried to profit from it without Abbott's knowledge. The suit does not affect any of the clinical trials of tumour-starving drugs, called angiogenesis inhibitors, going on at hospitals around the country. Folkman was quoted by the Globe as saying that he had no personal stake in the outcome of the suit. ``This dispute comes down to Children's Hospital wanting to protect its patent rights and Abbott wanting to avoid paying any royalties,'' he told the newspaper. "I have no personal interest in this matter and hope that Kringle 5 continues to test well and progresses from the laboratory to further stages of development so that it can eventually benefit patients,' he said. Abbott is seeking transfer of the patent, $10 million in punitive damages and compensation for any other losses stemming from the alleged fraud. The company also wants licensing rights for any drug that results from the discovery. Currently, those rights belong to EntreMed Inc. (NasdaqNM:ENMD - news), a Rockville, Md. company that has rights to 24 patents based on the work of Folkman and his colleagues, the Globe said. The Globe cited a source as saying Abbott and Children's have been negotiating the issue for three years. The hospital wanted to bring in an arbitrator, but Abbott resisted, the Globe said. An Abbott spokesman said the talks had failed. EnterMed and Children's are expected to file their responses within 20 days. chris

To: Victoria Walley who wrote (267)	6/1/2000 9:39:00 AM
From: Skywatcher	Respond to of 328

Abbott Laboratories Submits New Drug Application in the U.S. For Investigational HIV Therapy ABT-378/R -- Accelerated Approval Sought for Protease Inhibitor -- ABBOTT PARK, Ill., June 1 /PRNewswire/ -- Abbott Laboratories announced today that it has submitted a New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) to market ABT-378/r, also known as lopinavir/ritonavir, its investigational antiretroviral therapy for HIV and AIDS. Abbott is seeking accelerated approval for ABT-378/r based on ongoing Phase II/III studies evaluating the safety and efficacy of the drug in people living with HIV and/or AIDS. For serious illnesses where patients need access to new medications, the FDA allows accelerated approval based on data from ongoing studies. Full approval is granted based on review of additional safety and efficacy data from Phase III clinical trials. The regulatory submission in Europe is planned for late June and applications for other markets outside the United States will follow throughout the year. ``Submitting the NDA for ABT-378/r is yet another milestone for Abbott in its long history in HIV care,'' said Arthur Higgins, president, Pharmaceutical Products Division at Abbott. ``ABT-378/r is another example of our continued commitment to discover and develop innovative HIV therapies for those who need viable alternatives.'' Studies of ABT-378/r included as part of the NDA were conducted in both adult and pediatric patients who were either naive or experienced to antiretroviral treatments. These studies evaluated the safety and efficacy of the drug. Abbott continues the development of ABT-378/r to obtain full FDA approval. ``The submission of ABT-378/r to the FDA for accelerated approval will be welcome news for HIV-treating physicians and people with HIV,'' said Constance A. Benson, M.D., professor of medicine, Division of Infectious Diseases at the University of Colorado Health Sciences Center, and investigator in the ABT-378/r studies. ``We're looking forward to seeing results from Phase III clinical trials of ABT-378/r.'' Abbott has been providing ABT-378/r to patients in markets worldwide since the fall of 1999 through an Early Access Program. The Early Access Program gives patients who do not have other viable therapeutic options access to this investigational treatment. Abbott will continue to provide access to ABT-378/r through the Early Access Program while the FDA reviews the NDA. Abbott Laboratories has been a leader in AIDS research since the early years of the epidemic. In 1985, the company developed the first licensed test to detect HIV in the blood, and remains a leader in HIV diagnostics. Abbott retroviral and hepatitis tests are used to screen more than half of the world's donated blood supply. With ABT-378/r, Abbott has developed two protease inhibitors, and offers nutritional products that meet the unique dietary needs of people living with HIV. In addition to conducting its own aggressive research to fight HIV and AIDS, Abbott continues its strategic alliance with Triangle Pharmaceuticals to develop and market promising antiviral drug therapies. Chris

To: Victoria Walley who wrote (267)	6/9/2000 1:51:00 PM
From: Skywatcher	Read Replies (1) \| Respond to of 328

Abbott Announces 25 Million Share Buyback, Declares Quarterly Dividend ABBOTT PARK, Ill., June 9 /PRNewswire/ -- The board of directors of Abbott Laboratories today approved the purchase of up to 25 million shares of its common stock from time to time in the open market and declared a quarterly common dividend of 19 cents per share. The cash dividend represents an 11.8 percent increase over the year-earlier quarter and is payable August 15, 2000, to shareholders of record at the close of business on July 14, 2000. This marks the 306th consecutive dividend to be paid by Abbott since 1924. Abbott Laboratories is a global, diversified health care company devoted to the discovery, development, manufacture and marketing of pharmaceutical, diagnostic, nutritional and hospital products. The company employs 57,000 people and markets its products in more than 130 countries. In 1999, the company's sales and net earnings were $13.2 billion and $2.4 billion, respectively, with diluted earnings per share of $1.57. Abbott's news releases and other information are available on the company's Web site at www.abbott.com . This is a nice development.... chris