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Biotech / Medical : Trickle Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (998)	1/10/2002 12:18:30 PM
From: tuck	Read Replies (1) \| Respond to of 1784

MDZ finally starting to move a bit: >>PARSIPPANY, N.J.--(BUSINESS WIRE)--Jan. 10, 2002--Sankyo Pharma Inc. today announced that Sankyo Pharma Development (SPhD), its research and development division, and MDS Pharma Services, a part of MDS Inc. (NYSE: MDZ - news; TSE:MDS - news), have entered into an innovative strategic partnership under which MDS Pharma Services will build and manage a Clinical Pharmacology Unit exclusively for SPhD. The new unit will commence operations later this month in a Neptune, New Jersey facility being completed by MDS Pharma Services. The new Sankyo Clinical Pharmacology Unit will conduct clinical pharmacology and Phase I studies, with the initial emphasis on the evaluation of novel treatments for diabetes and lipid disorders. The unit's staff, comprised primarily of MDS Pharma Services personnel dedicated exclusively to Sankyo projects, will operate under the direction of an advisory board consisting of senior officers from the two companies. Through close participation with Sankyo in project planning, study conduct and reporting of findings, this unit will further Sankyo's goal of shortening the time needed to evaluate and develop products in the company's R&D pipeline while ensuring that high quality standards are maintained. Joseph P. Pieroni, President of Sankyo Pharma Inc., noted that ``We are committed to expanding the capabilities of Sankyo within the U.S., and the formation of this new unit serves as a significant milestone in achieving that strategic objective. While we could have proceeded independently, by partnering with MDS, Sankyo will achieve meaningful efficiencies, cost savings and access to some of the best people in the field of clinical pharmacology, all of which we view as strong rationales for proceeding with this innovative partnership.'' ``We are very pleased to be entering into this important relationship with MDS Pharma Services,'' said John Alexander, MD, President, SPhD. ``Sankyo has many projects in early clinical development and has been investing extensively to expand its capabilities in the U.S. and Europe. We believe that this new unit will ensure that we conduct the highest quality clinical studies and expedite product registrations not only in the U.S. but in Europe and Japan as well. We also believe this relationship will lead to additional collaborative opportunities between SPhD and MDS Pharma Services.'' ``We are delighted to join our valued partner Sankyo in this venture,'' said Doug Squires, Ph.D., president and CEO of MDS Pharma Services. ``It will allow us to leverage our strengths in early drug development to most effectively achieve the goals of our clients.'' ``MDS Pharma Services is focused on doing business outside of the bounds of traditional CRO arrangements,'' said Jim McClurg, Ph.D., Senior Vice President of MDS Pharma Services. ``Our objective in this relationship is to move beyond a project-by-project arrangement with a company to build a high-performance unit benefiting a particular client - offering science, state of the art facilities, people and systems - addressing clinical development needs over a long period of time. The unit we are developing in conjunction with Sankyo does just that - it has been developed for the exclusive purpose of supporting Sankyo's global drug development goals.''<< snip Cheers, Tuck