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I don't know if there is a norm here, Dubi should know better but Tsur is an honest guy and note that he said that kamada is not for sail but he did not denied any other relations or cooperation.
Kamada is making another headline:
Baxter in talks to buy Kamada for $150-200m
If a deal is reached, it will initially involve R&D cooperation, and Baxter will obtain some rights to Kamada’s API drug for treating lung diseases.
9 Jul 07 18:33
Sources inform ''Globes'' that Kamada Ltd. (TASE: KMDA) is conducting advanced negotiations with Baxter International Inc. (NYSE:BAX), which include a possible sale of the company at a value of $150-200 million.
If a deal is reached, it will include two stages. The first stage will involve R&D cooperation, amounting to tens of millions of dollars, under which Baxter will obtain some rights to Kamada’s Alpha-1 Proteinase Inhibitor (API) for treating lung diseases. Baxter will have also an option to acquire Kamada as a whole. The sources said that a Baxter negotiating team recently visited Kamada to discuss specifics of a deal.
Kamada CEO David Tsur denied the report, saying that the company was not for sale. He added that the marketing rights for inhalable API, the company’s flagship product, would not be given to another company at least until more progress had been achieved in its development.
Kamada’s parties at interest include Tsur, Ralph Hahn, and Leon Recanati (both personally and through GlenRock Israel). The company has a market cap of NIS 446 million, after raising NIS 30 million at a company value of NIS 120 million in late 2005. The company develops drugs and medical ingredients on the basis of human plasma. The company’s API targets congenital emphysema and cystic fibrosis. Another drug is used to treat rabies.
Baxter is a pharmaceutical and medical devices company with a market cap of $38 billion. It both competes against most of Kamada’s products and sells active pharmaceutical ingredients (APIs) to the company.
This is funny:
JewTube founder: Online video sharing will overshadow TV
http://www.globes.co.il/serveen/globes/docView.asp?did=1000227919
Probably a translation problem, could also be an over reaction of the writer who interpreted the CEO or the analyst who covers Kamada. My impression from David Tzur the CEO rules out the hutzpa possibility on his account.
Anyway it is a happy day for ALNY share holders
I know that Talecris Biotherapeutics did a phase II study that was completed on January 2004 and probably failed to show efficacy (because nothing happened since then).
http://clinicaltrials.gov/ct/show/NCT00486837?order=1
Thanks for the info. Idit.
This morning Kamada released a note at TASE that they received a positive review regarding its program to test its inhaled AAT in phase II clinical trials for the treatment of Cystic Fibrosis.
Kamada-
What I can think of is the argument that the inhaled form will be
cheaper and easier hence more patients will be able to be treated.
Kamada-
I have this question written in my notebook for their next presentation.
Kamada-
Since Kamada got Orphan Drug Designation for the Inhaled AAT,
does this mean that for 7 and 10 years (USA, Europe) other products including recombinant will be blocked?
The settings of those dates makes me think we're in HELEM...
"As usual this stock reacts days before the news are out"
Observation: Biocell is running up again.
Theory: In a few days time we'll have news about PLX.
Not much left to sell anyway
Yeah I saw this PR and I was thinking:
Good to have a sign of life from TARO
BUT they still have to finish the deal
with Sun and Templeton are taking them
to court.
sigh...
TEVA ANNOUNCES APPROVAL OF AMLODIPINE BESYLATE TABLETS
Jerusalem, Israel, June 29, 2007 – Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA)announced today that the U. S. Food and Drug Administration (FDA) has granted approval for the company’s ANDA for Amlodipine Besylate Tablets, 2.5 mg, 5 mg and 10 mg. Shipment of the product will begin shortly. Teva’s Amlodipine Besylate Tablets are the AB-rated generic equivalent of Pfizer’s Norvasc®
Tablets, and are indicated for treatment of hypertension, chronic stable angina and vasospastic angina. Mylan has sued the FDA arguing that its 180-day exclusivity blocks other final approvals
until September, 2007. Total annual sales of this product are approximately $2.8 billion for the twelve months ended
March 31, 2007, based on IMS sales data.
As you predicted, it ain't over yet:
Generic Pharmaceutical Association hires Greenberg Traurig to lobby federal government -- June 28, 2007
http://www.sddt.com/Search/SearchResults.cfm?Expression=The+Generic
WASHINGTON (AP) -- The Generic Pharmaceutical Association hired Greenberg Traurig LLP to lobby the federal government, according to a disclosure form. The firm will represent the industry on international trade issues, according to the form filed Wednesday. On its Web site, the Arlington, Va.-based trade group said it is concerned about intellectual property provisions in recent free trade agreements that could block generic drug exports to other countries and hamper competition for generic drugs in the United States.
Regina K. Vargo, who was assistant U.S. Trade Representative for the Americas from 2001 to 2006, and James Bacchus, a former U.S. representative from Florida and former chairman of the WTO's Appellate Body, are among those registered to lobby on behalf of the trade group.
The group's membership includes companies, such as Hospira Inc., Mylan Laboratories Inc. and Watson Pharmaceuticals Inc.
Under a federal law enacted in 1995, lobbyists are required to disclose activities that could influence members of the executive and legislative branches. They must register with Congress within 45 days of being hired or engaging in lobbying.
Quark Pharmaceuticals-
looks like their attempt to IPO at NASDAQ failed yesterday.
I do hope that you are right for the sake of those who need the expansive biological drugs.
Teva and other generic biologics companies will have easier path in Europe. The 12 years of market exclusivity is not exactly good news...
Press Release Source: Elbit Systems of America
Kollsman, an Elbit Systems of America Company, Awarded ID/IQ Contract Worth up to $97 Million from U.S. Navy
Wednesday June 27, 6:15 am ET
Received Initial Delivery Orders Valued at $14 Million
MERRIMACK, New Hampshire, June 27 /PRNewswire-FirstCall/ -- Kollsman, Inc., an Elbit Systems of America company, announced receipt of an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract from the Naval Inventory Control Point-Philadelphia (NAVICP)/Naval Supply Systems Command (NAVSUP) for test, teardown, analysis and repair/modification of various Night Targeting System (NTS) Weapon Repairable Assemblies (WRAs) and System Repairable Assemblies (SRAs) in support of the AH-1W Marine Corps Helicopter. The total ID/IQ contract value may run as high as $97 million over a five-year period. As part of this award Kollsman has received initial delivery orders valued at $14 million. Work will be mainly performed in Merrimack, New Hampshire and is expected to be completed in 2012.
ADVERTISEMENT
"We are very pleased to be selected by the NAVICP/NAVSUP. This contract continues Kollsman's important work supporting the Marine Corps helicopter mission readiness and demonstrates excellent relations with this depot legacy program," stated Randy Moore, Kollsman's Executive Vice President and General Manager.
snip
Press Release Source: Given Imaging
Given Imaging Receives Reimbursement Clearance for PillCam(TM) SB From Japan's Central Health Insurance Committee
Wednesday June 27, 12:01 am ET
Reimbursement Coverage Includes Entire Adult Population in Japan
YOQNEAM, ISRAEL--(MARKET WIRE)--Jun 27, 2007 -- Given Imaging Ltd. (NasdaqGM:GIVN - News), the global leader in capsule endoscopy, today announced that Japan's Chuikyo (Central Social Health Insurance Committee) has approved reimbursement for the company's PillCam(TM) SB capsule endoscope. Effective October 1st, 2007, Japan's entire adult population will be eligible for reimbursement of the PillCam SB procedure for small bowel indications with obscure GI bleeding. This announcement follows approval from Japan's Ministry of Health, Labor and Welfare (MHLW) to market and sell the PillCam SB capsule endoscope in Japan on April 23rd of this year. Japan is believed to be the world's second largest healthcare market.
ADVERTISEMENT
Homi Shamir, president and CEO of Given Imaging, said, "This is an important day for our company as it means that patients in Japan who suffer from abdominal symptoms can now be diagnosed using PillCam SB, a proven patient-friendly, effective procedure. We are very pleased that Chuikyo issued its reimbursement decision well ahead of our expectations and will continue to work closely with our Japanese partners to educate gastroenterologists throughout the country and accelerate sales of PillCam SB. In the future, we will introduce the rest of our product line including the PillCam SB 2, PillCam ESO 2, AGILE patency and PillCam COLON into the Japanese market."
About Given Imaging Ltd.
Press Release Source: Protalix BioTherapeutics, Inc.
Protalix BioTherapeutics Added to Russell 3000(R) Index
Tuesday June 26, 11:24 am ET
CARMIEL, Israel, June 26 /PRNewswire-FirstCall/ -- Protalix BioTherapeutics, Inc. (Amex: PLX - News) today announced that its shares have been added to the broad market Russell 3000® Index. The Russell Investment Group reconstituted its comprehensive set of U.S. and global equity indexes following the close of the U.S. markets on Friday, June 22.
Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Dr. David Aviezer, President and Chief Executive Officer of Protalix, stated, "Our addition to the Russell index is a reflection of the progress we have made since we listed our shares on the American Stock Exchange. Our recent receipt of FDA approval to launch phase III clinical trials of prGCD represents a significant milestone for Protalix and gives us great confidence in the future of the Company. We believe that inclusion in this index will help increase our visibility among investors and contribute to our efforts to increase shareholder value."
snip
Teva says FDA OKs generic of Glaxo's anti-nausea drug
Tue Jun 26, 2007 11:03 AM ET
June 26 (Reuters) - Teva Pharmaceutical Industries Ltd. <TEVA.O> <TEVA.TA> said U.S. health regulators approved its application for a generic version of GlaxoSmithKline's <GSK.L> Zofran, an anti-nausea drug used by patients undergoing chemotherapy.
The U.S. Food and Drug Administration approved 4 mg, 8 mg and 24 mg ondansetron hydrochloride tablets and 4 mg and 8 mg ondansetron orally disintegrating tablets USP, the Israel-based company said in a statement. (Reporting by Anup Roy in Bangalore)
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070626:MTFH89114_2...
GIVN was cramerized, will probably cause a few % up:
Given Imaging (GIVN) has a product that could revolutionize the health care industry, Jim Cramer told viewers of his "Mad Money" TV show on Speculation Friday.
The Given System is a wireless imaging system that uses disposable video capsules, he explained. And the company sells a medical device called the PillCam, a pill-sized camera that people swallow to detect internal problems.
Israel-based Given has already used its PillCam capsule for endoscopy procedures in which cameras have checked out patients' upper and lower intestines. This method, Cramer said, seems much more comfortable than checking out gastronomical problems the old-fashioned way.
In the past, Cramer said, he's made viewers money in such medical device companies as Hansen Medical (HNSN) , Micrus Endovascular (MEND) , Kyphon (KYPH) and Intuitive Surgical (ISRG) .
In Intuitive Surgical's case, Cramer speculated on much more complicated technology, whereas in Given's case, he said he's betting on the success of a simple PillCam.
If people buy Given, they'll be taking a "calculated risk." But if the PillCam is as much of a hit as he believes it might be, the big earnings should start rolling in within a couple of years, Cramer said.
For medical devices, he said, he looks at both rigor and pending approvals. Given is coming out with PillCams for the esophagus and colon. Plus, its guidance looks promising and is a sign that there's more to come from the company.
Judging from collaboration agreements TEVA made here in Israel with PLX and Procognia, they sure are interested in biogenerics.
They need a partner because they don't have the ability as you indicated. From the talks at local conferences and the pace things are moving at their biogeneric department, I concluded that this arena is not on TEVA's top list yet.
I'm sorry, the link you gave is not valid so I could not read the story.
TEVA has a department for biogeneric development and their people are hunting all over for candidates. However, it is my impression that TEVA's management is not giving this arena enough budget yet.
Too bad. They were really leading scientifically. Only during the San Diego conference their collaborator from the Roslin Institute presented outstanding data about their technologies. It was later on the headlines of many journals. The second loser is the company providing the vectors (lentivirues) for these studies.
There are at least two other chicken companies with good science: Avigenics and Origen Therapeutics. Hope they will somehow survive.
Genzyme is a good partner, They supported Genzyme Transgenics all these years. Now they take a brave move in to gene therapy which is a difficult cases. I sure wish them luck.
Did you see the odd reaction ?
The stock is actually up some 26% on a bigger vol than its usual.
Finally we'll see some real trading here!
I can understand how tough it is for the Templeton fund to take a big loss on TARO but selling good stocks such as TEVA or CHKP because they are disappointed from the Israeli justice system,
that sounds foolish to me.
We can take ENCY and CEPH out and then there are 8
10 Biotech Stocks Facing FDA Judgment Day
By Adam Feuerstein
Senior Writer
6/18/2007 6:46 AM EDT
URL: http://www.thestreet.com/newsanalysis/biotech/10362958.html
Drug approval decisions by the Food and Drug Administration can be important stock-moving events. But putting together a calendar of these potential catalysts can be difficult.
The FDA's Web site isn't very helpful, and unless you have access to scores of sell-side research reports, you're pretty much on your own. It's no wonder I get a lot of email from readers asking for biotech event calendars.
Here's some help. I've put together a list of key upcoming FDA drug approval decisions for the rest of the year. This isn't comprehensive, but it does cover most, if not all, new drugs being developed by biotech firms. There are a few specialty pharma and Big Pharma drugs on the list, too.
Here are some of the more notable pending FDA decisions:
Cephalon (CEPH)
Drug/indication: Nuvigil for improved wakefulness
FDA decision date: June 16 (a report of the decision may come Monday)
Nuvigil is an important second-generation version of Cephalon's wake-promoting drug Provigil, which will soon go generic. With a longer half-life, Nuvigil is expected to remain effective longer, upwards of 10 to 11 hours vs. 6 to 7 hours for Provigil. Originally approved as a treatment for narcolepsy, Provigil (and soon Nuvigil) are used more commonly to combat shift-work fatigue, excessive daytime sleepiness and for people with sleep apnea.
Neurochem (NRMX)
Drug/indication: Kiacta for amyloidosis
FDA decision date: July 16
An approval decision on Kiacta has been delayed since August 2006, when the FDA asked Neurochem for more efficacy data and indicated that the company should run another clinical trial. Neurochen chose not to do that, opting instead to give the FDA additional data from its existing clinical trial. Needless to say, Kiacta's approval -- yes or no -- is a controversial question.
DOR BioPharma (DORB)
Drug/indication: OrBec for graft vs. host disease
FDA decision date: July 21
When a May 9 FDA advisory panel voted to recommend against approval of OrBec, the drug's prospects took a significant turn for the worse. While the FDA doesn't always follow the advice of its panel, it's not likely to go the other way in this case.
{the table did not fit it can be found here
http://www.thestreet.com/pf/newsanalysis/biotech/10362958.html}
Indevus Pharmaceuticals (IDEV)
Drug/indication: Sanctura XR for overactive bladder
FDA decision date: Aug. 13
Clinical data suggests that Sanctura XR is the best drug in the overactive bladder class, which is a billion-dollar-plus market and growing. (You can't watch network news without seeing multiple ads for overactive bladder drugs.)
But therein lies the catch. Tiny Indevus and its not-so-much-bigger marketing partner Esprit Pharma have to figure out a way to convince doctors to prescribe Sanctura XR against Big Pharma competitors with very deep marketing pockets.
GPC Biotech (GPCB)
Drug/indication: Satraplatin for prostate cancer
FDA decision date: Aug. 15
Satraplatin is the first oral (pill) formulation of the commonly used platinum class of chemotherapy drugs. The phase III satraplatin study in men with advanced prostate cancer was a success, it hit all its efficacy endpoints, and data has been presented at numerous medical meetings, including this month's American Society of Clinical Oncology annual meeting.
In short, Satraplatin should be a slam-dunk, no-risk approval. Of course, nothing with the FDA is easy. The agency decided to hold an advisory panel meeting to discuss Satraplatin on July 24. Why the FDA made this decision is not clear, but it promises to introduce some volatility to GPC shares in advance of the Aug. 15 deadline.
Omrix Pharmaceuticals (OMRI)
Drug/indication: Thrombin for hemostasis
FDA decision date: Sept. 6
Omrix is an interesting story in that its main competitor, Zymogenetics (ZGEN) , is expecting an FDA decision on its own hemostasis drug, rThrombin, on Oct. 18.
We've got a case of dueling thrombins, which are used primarily by surgeons to stop bleeding during surgical procedures. Omrix's Thrombin is derived from human blood and the company will market the product through a partnership with Johnson & Johnson (JNJ) . Zymogenetics' rThrombin is a recombinant product, which might make it safer and easier to store and use.
Elan (ELN) and Biogen Idec (BIIB)
Drug/indication: Tysabri for Crohn's disease
FDA decision date: Oct. 15
There isn't much debate that Tysabri works in Crohn's disease. The unresolved issue is the drug's safety given the connection between Tysabri use and the often-fatal brain disorder progressive multifocal leukoencephalopathy.
Expect this topic to be a big focus of an FDA advisory panel meeting scheduled for July 31. Tysabri is already approved as a treatment for multiple sclerosis, so a second approval in Crohn's disease would be a meaningful boost for Elan and Biogen Idec.
Cardiome (CRME)
Drug/indication: Vernakalant for cardiac arrhythmias
FDA decision date: Oct. 18
After a hiccup with the first regulatory filing, Cardiome and its partner Astellas are waiting for the FDA review of the intravenous form of vernakalant, which will be used for patients suffering from acute irregular heart rhythms.
BioMarin (CRME)
Drug/indication: Kuvan for phenylketonuria
FDA decision date: Nov. 24
If approved, Kuvan would be the first effective treatment for patients with phenylketonuria, a digestive disorder in which people lack an enzyme required to break down a specific amino acid found in most protein-rich foods. As a result, PKU patients are required to follow a restrictive diet.
Elbit Systems Will Supply Two NATO Members Countries With Aviator's Night Vision Imaging System/Head-Up Displays
Monday June 18, 4:47 am ET
Contracts Valued at Approximately $14 Million
http://biz.yahoo.com/prnews/070618/ukm013.html?.v=101&printer=1
HAIFA, Israel, June 18 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (NASDAQ: ESLT - News) announced that it has been awarded two contracts, in a total amount of approximately $14 million to supply Aviator's Night Vision Imaging System/Head-Up Displays (ANVIS/HUD(TM)) for helicopters of two NATO member countries.
The ANVIS/HUD(TM) system employs cutting edge technologies to provide the most advanced system of its kind, offering a 24/7 significant increase in situational awareness and safety by allowing the pilot to fly "head out of the cockpit" during night operations and projecting critical flight information into the night vision goggles' view. This system has been in operational use by U.S. Army, U.S. Navy / U.S. Marine Corps and U.S. Air Force rotary wing pilots since the mid-1990's and is installed on numerous utility and special operations helicopter fleet platforms, including the UH-60, CH-53 CH-47, CH-46, AH-1, UH-1, V-22, Super Puma, Cougar and others. The Elbit Systems Group has equipped more than 5,000 helicopters, for more than 20 countries, with ANVIS/HUD(TM) systems.
Yoram Shmuely, Corporate Vice President and General Manager of Elbit Systems' Airborne and Helmet Systems Division said: "The selection of our systems for this project attests to Elbit Systems' leadership in the field of helmet and heads-Up display systems. The ANVIS/HUD(TM) system was developed to fully comply with NATO and U.S. military requirements allowing NATO pilots to safely and effectively execute their various missions in both day and night conditions."
Up to date, Elbit Systems delivered over 5,000 ANVIS/HUD(TM) systems to over 20 countries worldwide.
The JSF (F-35), considered the most advanced tactical fighter jet of its kind, is equipped with Elbit Systems' US subsidiary - VSI's helmet system. In recent weeks, the aircraft's manufacturers, Lockheed Martin, conducted a number of successful test flights using this helmet system.
About Elbit Systems
snip
It is my understanding that the wind in the USA court is blowing more towards the generics, that was what I mentioned that in post #1592. The case you've brought certainly support this attitude, even though it was not related to the pharma sector.
You should not compare TEVA to the companies you stated but to other generic drug makers such as WPI, BRL, MYL or big pharma like NVS, SNY.
TEVA is a giant with lots of components. A very important program is the Laquinimod (oral drug for MS) which will enter phase III in 2008 and might get to the market on 2010.
I hope that TEVA will understand the importance of biogenerics and become a leader in this arena.
This poster wrote about the Lotrel litidation between TEVA and NVS
http://seekingalpha.com/article/38218?source=d_email&u=6464
Judge Denies Novartis' Preliminary Injunction Against Teva in Lotrel Litigation
Posted on Jun 13th, 2007 with stocks: NVS, TEVA
Robert S. Dailey submits: On Monday, a federal judge denied a preliminary injunction motion filed by Novartis (NVS) to protect Lotrel from generic competition. With the decision, Teva (TEVA) likely resumed shipping its generic version of Lotrel before nightfall. After all, Teva had already made an initial launch on May 18 – a launch that fell victim to a temporary restraining order that was issued shortly thereafter.
Novartis sued Teva on U.S. Patent No. 6,162,802. The patent includes method of treatment claims and formulation claims directed to a combination of amlodipine and benazepril (marketed as Lotrel).
Novartis essentially lost on the first prong of the four-part preliminary injunction test: the likelihood of success on the merits. The main issue dealt with whether Teva’s amlodipine-benazepril formulation infringes the claims of the ‘802 patent. Particularly, the parties disagreed over whether the patent requires a physical barrier between the two active ingredients. (Teva’s product separates the incompatible ingredients by excipient, rather than by a barrier.)
The patent specification, and the prosecution history, seem to require that the two ingredients be “physically separated” from each other. Nevertheless, the patent’s broadest claim omits this limitation (while most dependent claims contain it). Novartis argued that claim differentiation prevents the court from reading the limitation into the broadest claim. On the other hand, Teva argued that disavowals in the specification and prosecution history, require reading the limitation into all claims. The court held off on deciding the dispute, but agreed that Teva’s argument has substantial merit.
But Novartis asserted that this makes no substantial difference. Teva, according to Novartis, “physically separate[s]” the two ingredients by means of its excipient, and therefore, still infringes the patent. Teva argued that the ‘802 patent’s use of the modifier “physical” implies that the separation must occur through use of a physical barrier. Since Teva uses no physical barrier in its formulation, it does not infringe.
The court rejected both parties’ renderings of this claim term. Novartis probably construes it too broadly, especially since none of the patent’s embodiments disclose a formulation where the active ingredients were interspersed in a sea of excipient. Yet Teva’s proposed construction is probably too narrow, failing to include embodiments in which the ingredients were in physical contact with each other. Hence, neither party proffered a credible construction of the claims.
This result necessitated a denial of the PI. Teva raised a substantial issue regarding whether the “physical barrier” imitation should be read into all of the claims. And, Novartis failed to provide a persuasive claim construction that captures Teva’s formulation.
In the end, the denial of the PI appears to be a reasonable result. The court basically recognized that PIs are best granted in situations where the court can make a straightforward assessment of claim scope. When this is not possible, patentees had better come to court with reasonable interpretations of the claim language (and not just proffer constructions that are most favorable to their interests). Anyway, it looks like we’re headed for one fun Markman showdown.
Given Imaging gets FDA clearance on PillCam for esophagus
By Robert Daniel
Last Update: 7:40 AM ET Jun 14, 2007
TEL AVIV (MarketWatch) -- Given Imaging Ltd., (GIVN) the Yoqneam, Israel, producer of capsule-endoscopy systems, said it received 510(k) clearance from the U.S. Food and Drug Administration for its next-generation PillCam ESO 2 video capsule for imaging the esophagus. Given has granted U.S. marketing rights for the product to the InScope division of Ethicon Endo-Surgery, which in turn is part of Johnson & Johnson. (JNJ)
Good luck,
May the force be with you!
oops, sorry for the duplicate!
This one fits better in BPA's board but since that board looks dead, I'm posting here.
BioSante Amends Deal With Teva
Tuesday June 12, 10:53 am ET
BioSante Amends Development and License Deal With Unit of Teva Pharmaceutical
LINCOLNSHIRE, Ill. (AP) -- Hormone therapy product maker BioSante Pharmaceuticals Inc. said Tuesday it is amending a development and license deal with a unit of Teva Pharmaceutical Industries Ltd.
The amendment will restart a collaboration on the development of a male testosterone therapy product for the United States.
Teva will reinstate funding and development of the product after having withdrawn a prior notice to end the license agreement. It is also responsible for continued product development, including required clinical trials, regulatory filings and all manufacturing and marketing.
The product will be owned by BioSante, which will not have to make royalty or milestone payments to any other party. Teva will pay BioSante certain milestone payments and royalties on product sales assuming it is commercialized.
Shares of BioSante Pharmaceuticals gained 5 cents to $6.83, while Teva Pharmaceutical Industries dropped 23 cents to $39.45 in morning trading.
http://biz.yahoo.com/ap/070612/biosante_pharmaceuticals.html?.v=1&printer=1