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Aventis Announces Agreement to Sell Azmacort(R) (triamcinolone acetonide) to Kos
Pharmaceuticals, Inc.
STRASBOURG, France, March 8 /PRNewswire-FirstCall/ -- Aventis announced today
it has agreed to sell the global rights to Azmacort (triamcinolone acetonide)
Inhalation Aerosol to Kos Pharmaceuticals, Inc., a specialty pharmaceutical
company based in Miami, Florida. Under the terms of the agreement, Kos will
acquire Azmacort for a one-time cash purchase price of U.S. $200 million.
Additionally, upon the launch of an Azmacort HFA formulation (HFA, or
hydrofluoralkane propellant, has significantly less ozone-depleting potential
than the propellant in the original Azmacort formulation), Kos will pay Aventis
an annual royalty on net sales.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000501/NYM197 )
The divestiture of this product is in line with the company's strategy to
actively evaluate its product portfolio, and assess opportunities for divestment
and replacement with compounds focused on strengthening key disease areas.
This transaction is expected to be completed by the end of the first quarter of
2004, pending U.S. regulatory approval under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 ("HSR").
Azmacort is an inhaled corticosteroid indicated as prophylactic treatment for
the maintenance of asthma for patients age six and up. Azmacort is also
indicated for asthma patients who require systemic corticosteroid
administration, where adding Azmacort may reduce or eliminate the need for
systemic corticosteroids. In 2003, global net sales of Azmacort were
approximately 78 million euros.
About Aventis
Aventis is dedicated to treating and preventing disease by discovering and
developing innovative prescription drugs and human vaccines. In 2003, Aventis
generated sales of 16.79 billion euros (US $18.99), invested 2.86 billion euros
(US $3.24) in research and development and employed approximately 69,000 people
in its core business. Aventis corporate headquarters are in Strasbourg, France.
The company's prescription drugs business is conducted in the U.S. by Aventis
Pharmaceuticals Inc., which is headquartered in Bridgewater, New Jersey. For
more information, please visit: http://www.aventis.com/.
Statements in this news release containing projections or estimates of revenues,
income, earnings per share, capital expenditures, capital structure, or other
financial items; plans and objectives relating to future operations, products,
or services; future economic performance; or assumptions underlying or relating
to any such statements, are forward-looking statements subject to risks and
uncertainties. Actual results could differ materially depending on factors such
as the timing and effects of regulatory actions, the results of clinical trials,
the company's relative success developing and gaining market acceptance for new
products, the outcome of significant litigation, and the effectiveness of patent
protection. Additional information regarding risks and uncertainties is set
forth in the current Annual Report on Form 20-F of Aventis on file with the
Securities and Exchange Commission and in the current Annual Report -"Document
de Reference" -- on file with the "Autorite des marches financiers" in France.
Pursuant to Article 7 of the COB Regulation no. 2002-04, this press release was
transmitted to the Autorite des marches financiers before its release.
http://www.newscom.com/cgi-bin/prnh/20000501/NYM197DATASOURCE: Aventis
Pharmaceuticals Inc.
CONTACT: Constance Bienfait of Kos Pharmaceuticals, +1-305-523-3658; or
Corinne Hoff, Media Relations, +33-3-88-99-19-16, or ;
or US Communications, Lise Geduldig, +1-908-243-6580, or
, or Melissa Feltmann, +1 908 243-7080,
, all of Aventis
Web site: http://www.aventis.com/