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Gold/Mining/Energy : Nuvo Research Inc -- Ignore unavailable to you. Want to Upgrade?

To: Cal Gary who wrote (13757)	10/22/2004 9:08:33 PM
From: axial	Read Replies (1) \| Respond to of 14101

Dimethaid renews Pennsaid marketing with Solvay Dimethaid Research Inc (TSX:DMX) Shares Issued 83,412,759 Last Close 10/22/2004 $0.69 Friday October 22 2004 - News Release Mr. Daniel Chicoine reports DIMETHAID AND SOLVAY PHARMA RENEW CANADIAN PENNSAID(R) AGREEMENT Dimethaid Research Inc. and Solvay Pharma Inc. have entered into a non-binding letter of intent relating to their agreement to market and sell Pennsaid in Canada. Based on this agreement, Solvay has agreed to withdraw its notice of termination, proposed to take effect Dec. 10, 2004, subject to entering into a definitive agreement. Under the new terms, Solvay will assume primary responsibility for Pennsaid sales and promotion in Canada. Dimethaid will continue to participate in Canadian marketing initiatives and will retain full responsibility for managing the product's international marketing, distribution, licensing and business development. All Dimethaid Canadian Pennsaid sales activities will cease effective Nov. 1, 2004. Final terms of the agreement are currently under negotiation. "We are confident this renewed relationship will help position Pennsaid strongly in the Canadian marketplace," said Daniel H. Chicoine, chairman of the board for Dimethaid. "Now more than ever, Canadians are looking for a safe, effective treatment for arthritis pain. Solvay has the expertise and breadth of team to execute a strong marketing program to ensure that health professionals know about Pennsaid." In conjunction with the renewed agreement with Solvay, Dimethaid is also eliminating its sales force of 38 people. "We regret having to take this step, but the duplication of efforts by the two sales forces was not in the best long-term interest of Dimethaid," Mr. Chicoine said. About Solvay Solvay Pharma Inc. is a research-based pharmaceutical company, active in the therapeutic areas of cardiology, gastroenterology, mental health, men's health and a select group of specialized markets. It is headquartered in Markham, Ont., with a manufacturing facility in Victoriaville, Que. Solvay Pharma is a part of the internationally oriented Solvay Pharmaceuticals organization whose core activities consist of discovering, developing and manufacturing medicines for human use. Solvay Pharmaceuticals is a member of the worldwide Solvay Group of chemical and pharmaceutical companies, headquartered in Brussels, Belgium. For further information please see www.solvaypharma.ca. © 2004 Canjex Publishing Ltd.