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The new formulation, using Eurand's Microcaps(TM) and AdvaTab(R)technologies, is designed to dissolve quickly in the mouth without leaving asour or bitter taste. Eurand could potentially receive milestone paymentsfrom GSK totaling up to $42 million for the development of this product. GSKexpects to file an NDA in the near future. Under the agreement, and uponapproval of the NDA, Eurand will manufacture the product for GSK and receiveroyalty revenues.
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Gearoid Faherty, Chief Executive Officer of Eurand, commented, "We aredelighted with the results of the biostudy and are looking forward toGlaxoSmithKline submitting their NDA in the near future."
About Eurand
Eurand is a specialty pharmaceutical company that develops enhancedpharmaceutical and biopharmaceutical products based on its proprietary drugformulation technologies. Eurand has had four products approved by the FDAsince 2000 and has a pipeline of product candidates in development for itselfand its collaboration partners. Eurand has completed two phase III clinicaltrials on its lead product candidate, Zentase(TM), for the treatment ofExocrine Pancreatic Insufficiency and filed the first segment of its rollingNDA for this product in June 2007. Eurand's technology platforms includebioavailability enhancement of poorly soluble drugs, customized release,taste-making/fast-dissolving formulations and drug conjugation.
Eurand is a global company with facilities in the USA and Europe. Formore information, visit Eurand's website at www.eurand.com.
Certain statements made in this release, and oral statements made withrespect to information contained in this release, may constitute forward-looking statements. Such forward-looking statements include those whichexpress plan, anticipation, intent, contingency, goals, targets or futuredevelopment and/or otherwise are not statements of historical fact. The words"potentially", "could", "calls for" and similar expressions will some timesidentify forward-looking statements. These statements are based uponmanagement's current expectations and are subject to risks and uncertainties,known and unknown, which could cause actual results and developments to differmaterially from those expressed or implied in such statements. Forward-looking statements contained in this press release are made as of this date,and we undertake no obligation to publicly update any forward-lookingstatement, whether as a result of new information, future events or otherwise.Actual events could differ materially from those anticipated in the forward-looking statements.
SOURCE Eurand
