CIMA LABS Announces Collaborative Agreement With Aventis To Develop Allegra(R) Fast-Dissolve Product
9/25/2002 8:33:00 AM EDEN PRAIRIE, Minn., Sep 25, 2002 (BUSINESS WIRE) -- CIMA LABS INC. (CIMA) today announced it has signed a product development and worldwide licensing agreement with Aventis Pharmaceuticals Inc., which conducts the Aventis prescription drugs business in the U.S., to develop a fast-dissolve version of Allegra(R) (fexofenadine), one of the leading antihistamines on the market today.
Under this agreement, CIMA would receive fees and milestone payments for the successful development of a fast-dissolve tablet, which incorporates Aventis' active drug ingredient, fexofenadine, with CIMA's OraSolv(R) drug delivery system. CIMA would also receive royalty payments based on Aventis' commercial sales if the product is granted regulatory approval. CIMA and Aventis are currently negotiating a separate manufacturing and supply agreement for the product. As with CIMA's collaborative agreements with other pharmaceutical companies, Aventis will be responsible for marketing and distribution of this product.