Monday, November 20, 2006
11.20.2006, 09:48 AM
FRANKFURT (AFX) - Stada Arzneimittel AG said it is no longer to pursue its Interferon-beta project to treat multiple sclerosis, as limited marketing opportunities did not justify completion of the project.
The company said that the project, which was launched in 2001, did not have a completion date or a potential peak sales figure.
The move is part of the company's reorganisation of its Biosimilar projects.
Stada announced that it is now focusing on its Epo-zeta and Filgrastim projects.
The company is to transfer development, manufacturing and distribution rights for Epo-zeta for the US and Canada to US-based competitor Hospira.
Hospira is also to be granted distribution rights for Epo-zeta in the EU, said Stada.
Stada said that its milestone payments from Hospira would increase to 42.9 mln eur from 16.4 mln.
The company added that it continues to hold an option from 2011 for the complete takeover of Bioceuticals, of which it owns a 14.99 pct stake.
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