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Biotech / Medical : T/FIF, a New Plateau -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (2184)	8/18/2003 9:48:03 AM
From: Icebrg	Respond to of 2243

>>SPPI - Spectrum Pharmaceuticals>> [Busy times at Spectrum. This was maybe the reason they raised more capital.] On August 15, 2003, Spectrum Pharmaceuticals, Inc. announced that it has entered into an agreement to purchase certain assets and provide debtor in possession financing to the owner of the assets, Protarga, Inc. Spectrum has agreed to loan up to $550,000 to Protarga to allow for ongoing operations and to cover Protarga’s bankruptcy costs. The loan is secured by the assets that Spectrum has agreed to purchase, and will be due at the close of bankruptcy. Spectrum has signed a definitive agreement to purchase the assets for $2 million in cash, less the amount of the loan. The transaction is subject to bankruptcy court approval prior to closing. [And some new information regarding how they want to run their gererics business]. Spectrum Pharmaceuticals and Lannett Company Announce Exclusive Supply and Distribution Agreement for Ciprofloxacin Monday August 18, 9:15 am ET IRVINE, CA--(MARKET WIRE)--Aug 18, 2003 -- Spectrum Pharmaceuticals, Inc. (NasdaqSC:SPPI - News) and Lannett Company, Inc. (AMEX:LCI - News) today announced that they have entered into an exclusive supply, marketing and distribution agreement for ciprofloxacin. Ciprofloxacin is the chemical ingredient in Cipro®, a drug marketed by Bayer Corporation. Cipro® is widely used to treat bacterial infections, and estimated annual worldwide sales exceed $1 billion. Lannett will receive ciprofloxacin through Spectrum's NeoJB subsidiary, which is a joint venture between Spectrum and J.B. Chemicals & Pharmaceuticals, Ltd. (Bombay Stock Exchange: JBCPL). Upon approval of the ANDA and expiration of the patent, JBCPL will manufacture and supply ciprofloxacin for NeoJB. The Company hopes to generate revenue from the sale of ciprofloxacin in 2004.