PARIS, June 3 (Reuters) - Aventis (Paris:AVEP.PA - News) said on Thursday it would receive $300 million in upfront and milestone payments plus royalties on future sales after it agreed to sell remaining commercial rights on a cardiovascular drug to Abbott Laboratories Inc (NYSE:ABT - News).
Both companies had also agreed that Chicago-based Abbott would obtain the global manufacturing rights of trandolapril and the trandolapril/verapamil combination, the French drugmaker said in a statement. The agreement on the commercial rights excludes Japan, Aventis said.
The transaction is expected to help lift Abbott's earnings per share (EPS) in 2005 and following years but will not have an impact on this year's EPS, Aventis said.
"We believe that trandolapril and the trandolapril/verapamil combination have the potential to be significant global brands and strong contributors to Abbott's pharmaceutical portfolio," said Jeffrey Leiden, president and chief operating officer, pharmaceutical products group at Abbott.
Abbott currently has exclusive marketing rights to trandolapril in some markets, such as the world's biggest the United States. It shares marketing rights with Aventis elsewhere.
Aventis, which is being bought by smaller rival Sanofi-Synthelabo (Paris:SASY.PA - News) to create the world's third largest drugmaker, will continue to make trandolapril for Abbott until the transfer of the drug's manufacturing technology has been completed.
Stude, I loved Gilda...wish they'd rerun those skits. I use her "nevermind" around the house on days my mind feels like swiss cheese. When the circuits get scrambled, its good to laugh. She was a real joy.
Thanks for your perspective on the market and elections. The jobs report was good news. Cel
with oil and gas going through the roof, maybe those hybrid cars will finally begin to take off. if they preform well enough and if the sales volume on them picks up, then the cost should come down and they can make a dent in the all gasoline market.
i say we develope alternatives to oil and let all those crazy middle easterners fight each other again, the way it's supposed to be!
Student-Right On....CEO Pfizer said so much on CNBC yesterday. Vote for Kerry is a vote for pharma price controls. BTW- Sooner or later the question will be asked:Would you invade Iraq or Saudi Arabia to keep oil flowing to the US? Ejecting Saddam may just have been the excuse for the real reason for Iraq War. Bet Colin Powell puts it in his next book.
No, Rumsfeld will not go. The folks like him. It is the media that hate him. He was rude and a smart-ass (God bless him) to those fools.
You said: ".... The Iraq transition timing and news and oil prices declining are all timed nicely to attempt to influence reelection!"
What did you expect?
GWB gave a fine speech at the Academy. Some on this board are weak and defeatist; you know who you are. Not GWB, maybe he is often wrong but never in doubt. Sounds like U. S. Grant when he finally moved east and defeated the South.
"... so the more we work and the less we talk the better result we shall get.
We have had an Imperial lesson; it may make us an empire yet!"
Reflections from the South, the American stronghold, The General
Hi Plute, when are you coming out here? The weather has been perfect this past week. It feels like Hawaii with a slight breeze and temps in the mid-70's. Perfect for walking at the beach. No "June gloom" this year in contrast to last year when it lasted many weeks.
If you are driving down Pacific Coast Hwy and cost is no object, the new Montage Resort in Laguna Beach is lovely. According to reviews, the chef is fabulous and you can dine in the main restaurant or out by the pool. I highly recommend taking time to stroll along the walkway facing the ocean either before or after lunch.
The Montage project had been highly opposed by the local community, they even voted on it, so the compromise was to provide more access to the public. So now the caves and coves are accessible and they've done a nice job with landscaping the walk along the edge of the cliff. Stairs on the north side take you down to the coves and caves.
In Dana Point harbor, Harpoon Henry's is good, moderate, windows out to the harbor.
The San Clemente pier is also fun. The restaurant and bar are at both sides of the pier where it joins the beach. We've seen pods of whales passing by from that pier at times. And you can watch the surfers from overhead.
I don't remember where you live but I hope you have a nice time meandering down the coast. I love this place; it feels like heaven to me. Cel
A vote for Kerry is a vote for Teddy Kennedy then all pharmas will cut R&D.Bush knows Tenet and Ashcroft must go fast then Rumsfeld will announce he will not serve another term.Watch for a kinder gentler DOJ but must keep strong defense to keep oil flowing.