CV Therapeutics Acquires Rights to Ranolazine in Asia
June 22 2006 - 8:00AM
PR Newswire (US)
CV Therapeutics Now Has Exclusive Worldwide Rights for All
Indications PALO ALTO, Calif., June 22 /PRNewswire-FirstCall/ -- CV
Therapeutics, Inc. (NASDAQ:CVTX) announced today the company has
acquired rights to ranolazine in Asia following an amendment to its
existing licensing agreement with Roche Palo Alto LLC (Roche)
adding rights to Japan, China, Korea and other Asian markets. Based
on this amendment, CV Therapeutics now holds exclusive worldwide
commercial rights to ranolazine. In addition to these expanded
commercial rights, the amendment also provides CV Therapeutics with
exclusive worldwide rights to all potential indications for
ranolazine, including all non-cardiovascular indications. "Japan is
the second largest pharmaceutical market in the world. By gaining
commercial rights in Asia, and global rights to all indications, we
believe we have created significant new opportunities for
ranolazine," said Louis G. Lange, M.D., Ph.D., chairman and chief
executive officer of CV Therapeutics. "We also plan to utilize the
data we have developed to secure approval in the U.S. to support
our potential commercialization efforts around the world." Under
the terms of the amendment, CV Therapeutics will pay an upfront fee
and will make royalty payments associated with product sales in the
added Asian markets. Milestone payments would be due to Roche upon
approval in Japan and approval of the first additional
non-cardiovascular indication. About CV Therapeutics CV
Therapeutics, Inc., headquartered in Palo Alto, California, is a
biopharmaceutical company focused on applying molecular cardiology
to the discovery, development and commercialization of novel, small
molecule drugs for the treatment of cardiovascular diseases. CV
Therapeutics' approved products include Ranexa(R) (ranolazine
extended-release tablets) and ACEON(R) (perindopril erbumine)
Tablets. Ranexa is indicated in the United States for the treatment
of chronic angina in patients who have not achieved an adequate
response with other antianginal drugs, and should be used in
combination with amlodipine, beta-blockers or nitrates. In
addition, in the United States, CV Therapeutics co-promotes
ACEON(R), an ACE inhibitor, for reduction of the risk of
cardiovascular mortality or nonfatal myocardial infarction in
patients with stable coronary artery disease and treatment of
essential hypertension. CV Therapeutics also has other clinical and
preclinical drug development candidates and programs, including
regadenoson, which is being developed for potential use as a
pharmacologic stress agent in myocardial perfusion imaging studies.
Regadenoson has not been approved for marketing by any regulatory
authorities. Except for the historical information contained
herein, the matters set forth in this press release, including
statements as to development, conduct of clinical studies, study
results, regulatory review and approval, and commercialization of
products, are forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ
materially, including, early stage of development; regulatory
review and approval of our products; the conduct and timing of
clinical trials; commercialization of products; market acceptance
of products; product labeling; and other risks detailed from time
to time in CV Therapeutics' SEC reports, including its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2006. CV
Therapeutics disclaims any intent or obligation to update these
forward-looking statements. DATASOURCE: CV Therapeutics, Inc.
CONTACT: investors, Christopher Chai, Vice President, Treasury and
Investor Relations, +1-650-384-8560, or media, John Bluth, Senior
Director, Corporate Communications, +1-650-384-8850, both of CV
Therapeutics, Inc. Web site: http://www.cvt.com/
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