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Biotech / Medical : Forest Labs (FRX) -- Ignore unavailable to you. Want to Upgrade?

To: el paradisio who wrote (3)	7/27/2000 2:43:40 PM
From: radman33	Read Replies (1) \| Respond to of 9

FRX up nicely today on news of new surfactant trial: FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 25, 2000--Pediatrix Medical Group, Inc., (NYSE:PDX) has entered into an agreement with Forest Laboratories, Inc., (NYSE: FRX) to conduct a randomized controlled clinical trial that will compare two surfactant drugs used to prevent and treat a respiratory condition that occurs frequently in premature babies. As project director, Pediatrix will be responsible for enrolling up to 4,000 neonatal patients in the study. Many of those patients will be. admitted to neonatal intensive care units (NICUs) managed by Pediatrix. Respiratory Distress Syndrome (RDS) is a condition that is common among premature babies, whose lungs are often not sufficiently developed to produce surfactant. Several surfactant treatments that have been approved by the U.S. Food and Drug Administration are currently administered to ease breathing until babies begin to produce surfactant naturally. The trial will compare the safety and effectiveness of two of these products. "This agreement marks a milestone in our efforts to demonstrate the value of our national group practice of neonatal and perinatal physicians," said Roger J. Medel, M.D., Chairman and Chief Executive Officer of Pediatrix. "It also represents a new opportunity for Pediatrix, one in which we expect to partner with the pharmaceutical industry to conduct research that improves patient care by answering difficult clinical questions." The surfactant trial will be conducted over a period of approximately two years and will be supported by an estimated $2.5 million research grant from Forest to Pediatrix. Pediatrix maintains a clinical information system that currently holds outcomes data on more than 75,000 babies cared for by Pediatrix neonatologists in NICUs across the country. Forest Laboratories develops, manufactures and sells both branded and generic forms of ethical products which require a physician's prescription, as well as non-prescription pharmaceutical products sold over-the-counter, which are used for the treatment of a wide range of illnesses. Forest products are marketed principally in the United States and Europe. Marketing is conducted by Forest and through independent distributors. Pediatrix was founded in 1979 and its physicians provide services at more than 150 neonatal intensive care units. Combined, Pediatrix and its subsidiaries employ more than 450 physicians in 25 states and Puerto Rico. Additional information is available on the Internet: pediatrix.com. Except for historical information, this press release contains certain forward-looking statements that involve risk and uncertainties that may cause actual results to differ materially from the statements made. Such factors include, but are not limited to, changing market conditions, the ability to successfully identify suitable acquisition candidates and to complete those acquisitions on favorable terms and other risks detailed from time to time by the Company in its filings with the U.S. Securities and Exchange Commission.