Biotech Values

[DewDiligence]

NVS Teams with BOL on Retisert Implant

[BOL once had high hopes for Retisert; it was originally intended to treat DME and wet AMD, but the clinical trial failed a few years ago. Retisert is currently indicated for posterior uveitis, but I don’t think sales have amounted to much (hence the desire by BOL to bring in NVS).]

http://biz.yahoo.com/bw/060209/20060209005463.html?.v=1

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Bausch & Lomb Teams with Novartis Ophthalmics To Co-Promote Bausch & Lomb Retisert(TM)

ROCHESTER, N.Y.--(BUSINESS WIRE)--Feb. 9, 2006--Bausch & Lomb (NYSE: BOL ) and Novartis Ophthalmics, a business unit of Novartis Pharmaceutical Corp. (NYSE: NVS ), will co-promote Bausch & Lomb's patented orphan drug Retisert(TM) (fluocinolone acetonide intravitreal implant) 0.59 mg, in the United States. Retisert is indicated for the treatment of chronic noninfectious posterior segment uveitis.

Under the terms of the agreement, the Novartis retinal sales team will promote the Bausch & Lomb Retisert product to its network of retinal specialists in the United States, supplementing the efforts of Bausch & Lomb's U.S. pharmaceutical sales representatives. Bausch & Lomb remains responsible for Retisert marketing and product strategy.

Bausch & Lomb's Retisert is the world's first intravitreal drug implant for the treatment of chronic noninfectious posterior segment uveitis, a devastating and often blinding condition that afflicts approximately 175,000 people in the United States. Approved by the U.S. Food and Drug Administration, Bausch & Lomb launched Retisert in the U.S. in July 2005.

"Our collaboration with Novartis Ophthalmics will provide an expanded nationwide sales force, allowing more rapid distribution of this innovative technology to retinal specialists and their patients who are suffering from posterior segment uveitis," said Michael J. O'Rourke, vice president and general manager of Bausch & Lomb's U.S. Pharmaceuticals business. "Novartis has an extensive physician-specialist network in place for its Visudyne® (verteporfin for injection) therapy for the predominantly classic wet form of age-related macular degeneration, and we believe that both companies can benefit from the synergies inherent in this co-promotion agreement for Retisert."

Further details of the agreement are confidential.
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