Toremifene, which is Orion's proprietary drug discovery and which belongs to the class of anti-estrogens, is the active substance in FARESTON®, approved and marketed world-wide for the treatment of metastatic breast cancer.
The arrangement with GTx means the termination of the U.S. marketing license for Fareston held by Shire Pharmaceuticals Group plc (LSE: SHP, Nasdaq: SHPGY, TSX: SHQ), and the transfer of the US marketing authorisation to GTx.
In 2000, GTx in-licensed toremifene from Orion for indications in men's health. Toremifene is the active component in ACAPODENE(TM), a product candidate that GTx is developing in late stage clinical trials for two separate indications in men's health. The expanded scope of the product rights will make GTx the sole licensee of toremifene in the United States.
The rearrangements of the licensing agreements concerning toremifene and the transfers of Fareston inventories will generate about EUR 0.6 million in net earnings to Orion in early 2005. Orion will receive also royalties from GTx on the sales of Fareston.
According to Dr. Mitchell Steiner, CEO of GTx, the exclusive rights to toremifene in the U.S. and expanded rights globally, GTx will be better positioned to maximize the commercial potential of their toremifene product candidates.
To Orion the deal means the consolidation of the U.S. rights for toremifene under one, highly committed partner. - We have been very impressed about the progress of toremifene in GTx's pipeline, and we are very confident that the expanded collaboration is most favourable in view of the life cycle potential of the product, says Timo Lappalainen, Senior Vice President, Human Pharmaceuticals, Orion Pharma.
Contact person:
Timo Lappalainen, Senior Vice President, Human Pharmaceuticals, Orion Pharma,
phone +358 10 429 3692, GSM +358 50 500 8755
phone +358 10 429 3692, GSM +358 50 500 8755
About Orion Pharma
Orion Pharma, the originator of toremifene, is a research and development-orientated pharmaceutical division of the Orion Group (HEX: ORNAS, ORNBS), which is one of the leading companies in the healthcare sector in the Nordic area of Europe. Pharmaceutical R&D at Orion Pharma focuses on three core therapy areas: CNS therapies, cardiology and critical care, and hormonal therapies. Toremifene, an antiestrogen used in the treatment of advanced breast cancer, is marketed globally as Fareston. The main products in Orion's proprietary portfolio are Stalevo and Comtess (entacapone), treatments available globally for Parkinson's disease.
For further information please consult http://www.orion.fi.
Publisher:
Orion Corporation
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