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Schering-Plough, OraSure To Develop, Promote Rapid Oral Hepatitis C Virus Test

Comtex Business - Feb. 12, 2008
http://www.therapeuticsdaily.com/news/article.cfm?contenttype=sentryarticle&contentvalue=1716676&channelID=31

Feb 12, 2008 (financialwire.net via COMTEX) -- February 12, 2008 (FinancialWire)
Schering-Plough Corp. (NYSE: SGP) and OraSure Technologies Inc. (NASDAQ: OSUR) have agreed to develop and promote a rapid oral hepatitis C virus test using OraSure's OraQuick blood test.

The agreement expands an existing collaboration for product promotion in U.S. physicians' office markets, announced last year, to international markets.

Under terms of the deal, Schering-Plough will reimburse OraSure for certain development costs and will issue payments to OraSure based on certain regulatory and commercial milestones in international markets.

Financial terms of the deal were not disclosed. Shares of Schering-Plough rose 85 cents to close at $20.62, while shares of OraSure rose 18 cents to close at $7.79.