KENILWORTH, N.J., Dec. 16 /PRNewswire-FirstCall/ -- Schering-Plough Corporation today reported that, after consultation with ALK- Abello, it will not exercise its option agreement related to ALK-Abello's grass-pollen allergy tablet and other non-injectable allergy products. Schering-Plough will focus its research and development resources on other pipeline opportunities. ALK-Abello has reacquired the exclusive worldwide rights to these products, ending the collaboration entered into by the two companies in October 2002.
DISCLOSURE NOTICE: This press release may contain "forward-looking statements" about Schering-Plough's pipeline opportunities and other matters. Forward-looking statements relate to expectations or forecasts of future events. Please carefully consider any forward-looking statement and understand that many factors could cause actual results to differ materially from Schering-Plough's forward-looking statements. Schering-Plough does not assume the obligation to update any forward-looking statement. For further details and a discussion of risks and uncertainties that may affect forward- looking statements, see Schering-Plough's Securities and Exchange Commission (SEC) filings, including Schering-Plough's third quarter 2003 10-Q filed November 7, 2003 and future SEC filings.
Schering-Plough is a research-based company engaged in the discovery, development, manufacturing and marketing of pharmaceutical products worldwide.
CONTACT: Media, Denise K. Foy, +1-908-298-7616, or Investors, Lisa W.DeBerardine, +1-908-298-7437, both of Schering-Plough Corporation