Solvay Pharmaceuticals and Wyeth Pharmaceuticals Sign Agreements to Co-Develop and Co-Commercialize CNS Compounds and Co-Promote EFFEXOR® XR
Marietta, GA, April 1, 2004 – Solvay Pharmaceuticals today announced that it has signed extensive agreements with Wyeth Pharmaceuticals, a division of Wyeth, to co-develop and co-commercialize several central nervous system (CNS) compounds, and to co-promote Wyeth’s marketed product Effexor® XR (venlafaxine HCl) Extended-Release Capsules in the United States. The compounds in development include Solvay Pharmaceuticals’ bifeprunox and three others in early clinical development for the possible treatment of schizophrenia, bipolar disorder or a variety of other CNS conditions.
Bifeprunox is being studied in phase III clinical trials. The agreement allows for the co-development and co-commercialization of bifeprunox for use in the U.S., Canada, Mexico and Japan. Bifeprunox is jointly developed by Lundbeck and Solvay Pharmaceuticals and will be marketed by Lundbeck in Europe and other markets. The development of Solvay Pharmaceuticals’ three additional compounds, known under lab codes SLV310, SLV313 and SLV314, is a worldwide collaboration. Bifeprunox and the three SLV compounds are the product of Solvay Pharmaceuticals’ research and development efforts.
Wyeth’s neuroscience research pipeline is strengthened by the addition of bifeprunox and the three SLV compounds. Solvay Pharmaceuticals benefits from Wyeth’s development and marketing expertise and resources in the affected territories. Additionally, the U.S. co-promotion of Effexor® XR enhances Solvay Pharmaceuticals’ marketing presence in the CNS arena. Effexor® XR ranks second in the U.S. antidepressant market and is sold in more than 50 countries worldwide. Solvay Pharmaceuticals’ co-promotion efforts in the U.S. will begin in the next few months.
“Partnerships of this nature are an integral part of our growth strategy,” said Harold Shlevin, PhD, President and CEO of Solvay Pharmaceuticals, Inc. in the U.S. “We are pleased to have the opportunity to collaborate with Wyeth on the development and commercialization of our own compounds, while enhancing our presence in psychiatrists’ offices with the co-promotion of Wyeth’s Effexor® XR.”
Solvay Pharmaceuticals, Inc. of Marietta, Georgia (USA), is a research-based pharmaceutical company, active in the therapeutic areas of cardiology, gastroenterology, mental health, women's health and a select group of specialized markets. It is a part of the internationally oriented Solvay Pharmaceuticals organization whose core activities consist of discovering, developing and manufacturing medicines for human use. Solvay Pharmaceuticals is a member of the worldwide Solvay Group of chemical and pharmaceutical companies, headquartered in Brussels, Belgium.
