Replies to post #1226 on Hot Biotechs (fka HOTBIO)

[KauaiPI]

FYI~Elan says FTC drops part of anti-competition probe
Reuters, 05.08.03, 9:46 AM ET

NEW YORK (Reuters) - Elan Corp. on Thursday said U.S. regulators have dropped part of a probe into whether it wrongfully blocked a generic rival to its muscle-relaxant medicine Skelaxin, an investigation that scuttled Elan's planned sale of the drug.

The Irish drugmaker said the U.S. Federal Trade Commission had sent it a letter saying it would not press any charges against the company for using a new patent to block cheaper copycat forms of Skelaxin. The patent obtained by Elan concerns how the drug interacts with food.

Elan had planned to sell U.S. rights to the drug and another medicine to King Pharmaceuticals Inc. but King backed out of the $850 million transaction last month after the FTC began investigating Elan.

from;
http://www.forbes.com/newswire/2003/05/08/rtr965092.html