STERLING, SANOFI FORM THREE JOINT VENTURESSterling Drug Inc., Eastman Kodak Co.'s pharmaceuticalsubsidiary, and Sanofi of Paris announced Wednesday that theysigned letters of intent to form three joint ventures.
Two ventures operating under the name Sanofi Winthrop willmarket prescription drugs. A third, called Sterling Health, willmarket over-the-counter drugs in Europe.
The research and development budget of the combinedcompanies will exceed $500 million. Each company will retaindirect management of its research operations, but the jointventures will have rights to the resulting products.
SYNTHECELL FORMS ANTISENSE SUBSIDIARY
Synthecell Corp. of Rockville, Md., said Wednesday it formed asubsidiary, Genetic MediSyn, to develop antisense therapeutics.Founded in 1987, Synthecell makes synthetic oligonucleotidesfor use in research. The parent company is seeking outsideinvestment for Genetic MediSyn, which has targeted a viraldisease treatment for its first product.
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