BURROUGHS TO DEFEND EXCLUSIVE RIGHTS TO AZTBurroughs Wellcome Co. said it will defend its exclusive rightsto produce and distribute AZT against an attempt by BarrLaboratories Inc. of Pomona, N.Y., to develop a generic versionof the AIDS drug.
Barr last week applied to the Food and Drug Administration forapproval to manufacture a generic AZT, which currently is onlymade by Burroughs.
On Monday, Burroughs vowed to fight to keep marketexclusivity. "We continue to be confident of our patent positionand will defend it against challenge," spokeswoman SharonHaggerty said.
PRIVATE PLACEMENT FOR FUTURE MEDICAL SUBSIDIARY
Future Medical Products Inc. of Hauppauge, N.Y., announcedthat it has successfully completed an initial private placementfor its subsidiary, Viromedics Inc. The placement exceeded theexpected total of $750,000, said Herb Glicksman, vice presidentof Future Medical (NASDAQ:FMPI). Viromedics owns jointpatent rights with the Albert Einstein College of Medicine formethods of treating the HIV virus by using an organiccompound. The compound is currently being tested for toxicityin animals.
(c) 1997 American Health Consultants. All rights reserved.