4/25/2007

Orion's partner discontinues development of levosimendan (Simdax) in the US

Orion's partner discontinues development of levosimendan (Simdax) in the US
 
Orion has been informed by Abbott, the license holder for the intravenously administered formulation of levosimendan (trade name Simdax), an Orion-originated compound for acute decompensated heart failure, that Abbott has decided not to continue the development program for the product in the US, because it would not be commercially reasonable. Accordingly, the considered additional Phase 3 studies will not be conducted by Abbott.
 
Abbott continues to assess feedback from discussions with European authorities.
 
Simdax will remain available in the markets where it already has been approved. The product has marketing authorisations or submitted applications in more than 40 countries.
 
Under a renewed licensing agreement concluded in April 2004, Abbott took over the development programme of the intravenously administered formulation of levosimendan and received also extended marketing rights to the product.
 
 
 
 
Orion Corporation
 
 
 
Jukka Viinanen                                        Olli Huotari
President and CEO                                  Senior Vice President, Corporate Functions
 
 
 
 
Contact person:
Jukka Viinanen, President and CEO, Orion Corporation, phone +358 10 426 3710
 
 
 
 
Distribution:
Helsinki Exchanges
Media
 
Publisher:
Orion Corporation
Orionintie 1A, 02200 Espoo
Homepage: www.orion.fi