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Biotech / Medical : Monsanto Co. -- Ignore unavailable to you. Want to Upgrade?

To: Dan Spillane who wrote (645)	12/1/1998 1:06:00 PM
From: Anthony Wong	Respond to of 2539

12:43 T G.D. Searle CEO Says 'Best Case' Celebrex Launch 1Q 1999 NEW YORK (Dow Jones)--G.D. Searle Chief Executive Richard De Schutter said plans are in place for a "best case" launch of the COX-2 inhibitor Celebrex for the first quarter of 1999. The drug is being reviewed Tuesday by a Food and Drug Administration advisory committee for the treatment of rheumatoid arthritis. "We believe our database is sound," De Schutter said, adding that Celebrex is showing "clinical superiority" over potential competitors. The new class of drugs, called COX-2 inhibitors, are seen as advantageous because of their promise to eliminate gastrointestinal side effects caused by existing treatments. Merck & Co. (MRK) is also in the race to bring its COX-2 inhibitor Vioxx to market. De Schutter said Celebrex launch plans are being developed for 35 countries in the next 36 months. Searle is in a global co-promotion agreement with drug giant Pfizer Inc. (PFE) for the marketing of Celebrex. G.D. Searle is the pharmaceutical sector of Monsanto Co. (MTC). (MORE) DOW JONES NEWS 12-01-98 12:43 PM 12:53 T G.D. Searle CEO -2: Expects Record Sales, Earnings In 1998 In another matter, G.D. Searle Chief Executive De Schutter said the company expects record sales of about $3 billion in 1998, up from sales of $2.4 billion in 1997. De Schutter also said G.D. Searle expects to report record earnings in 1998. Improving performance at the company is being fueled by growth and product sales, De Schutter said. The company's Ambien drug had sales of $316 million through September year-to-date, up 25% from sales of $253 million in the year earlier period. De Schutter said G.D. Searle has attained the No. 1 position in the arthritis market in the U.S., U.K., Canada and Sweden and noted that Arthrotec had the second most successful drug launch in 1998 with 889,000 prescriptions in the first six months of the year, according to drug tracking firm I.M.S. Health. G.D. Searle is reinvesting 29% of its sales back into research and development, which includes research in the areas of arthritis and pain, cardiovascular and oncology. In the cardiovascular pipeline, G.D. Searle is conducting research for drugs to treat thrombosis, a largely untreated disease that is the fastest-growing subsegment in the cardiovascular market, De Schutter said. The company is also studying Celebrex for other indications including Alzheimer's disease and colon cancer. - Melanie Trottman; 201-938-5287 (END) DOW JONES NEWS 12-01-98 12:53 PM