Although no definitive decision has been made, Abbott is introducing negotiations with Orion on the design, scope and financing of the possible study, with the proposal including Orion funding the trial. Orion will inform about the solutions as soon as reached.
Levosimendan (trade name Simdax) is already authorised in over 40 countries for the treatment of acute decompensated heart failure. Two clinical development studies, REVIVE II and SURVIVE, recently were completed as part of the ongoing global development program for levosimendan. The results of these two studies were reported by Abbott and communicated by both Orion and Abbott in stock exchange releases of 14 and 16 November 2005, respectively.
Levosimendan is Orion's proprietary compound. Under a renewed licensing agreement concluded and communicated on 15 April 2004, Abbott took over the large-scale Phase 3 clinical trials with the intravenously administered formulation of the compound. Abbott also received extended marketing rights to the product.
Jukka Viinanen Olli Huotari
President and CEO General Counsel
Jukka Viinanen, President and CEO, Orion Corporation, phone +358 10 429 3710
Orionintie 1A, 02200 Espoo