FORT COLLINS, Colo., March 10 /PRNewswire-FirstCall/ -- Atrix Laboratories, Inc. announced today that the company has signed an exclusive marketing agreement with Genpharm for the distribution of specific generic topical dermatology products in Canada.
"We are pleased to align ourselves with Genpharm," said Michael R. Duncan, vice president and general manager at Atrix. "We would expect the first set of targeted dermatology products to be approved and marketed in Canada over the next 24 months. Branded sales of these targeted products are approximately $12 million."
Under the terms of the agreement, Atrix will receive a royalty on net sales and a manufacturing fee. Atrix will manufacture the products for Genpharm at its facility in Fort Collins, Colorado.
Genpharm Inc. is an affiliate of the Merck Generics Group, a corporate division of Merck KGaA of Germany. It is the fastest growing pharmaceutical company in Canada. Genpharm is engaged in the development, manufacturing and marketing of high quality, cost effective prescription pharmaceuticals around the world in conjunction with the Merck Generics global group of companies.
Atrix Laboratories, Inc. is an emerging specialty pharmaceutical company focused on advanced drug delivery. With unique patented sustained release and topical technologies, Atrix is currently developing a diverse portfolio of proprietary products, including oncology, pain management, and dermatology products. The company also partners with large pharmaceutical and biotechnology companies to apply its proprietary technologies to new chemical entities or to extend the patent life of existing products. Additional information is available on the Atrix Laboratories, Inc. website at http://www.atrixlabs.com/.
This press release contains statements that qualify as "forward-looking statements" under the Private Securities Litigation Reform Act of 1995, including statements about the following topics, the company's estimation of branded sales of targeted products, the company's expectation that Genpharm will be successful in registering these products in Canada and will successfully market the products, that Atrix will receive a royalty and manufacturing fee, and that these targeted products will be manufactured at Atrix's facility in Fort Collins, Colorado. This press release contains statements that qualify as "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. The company is subject to certain risk factors that may cause actual results to differ materially from anticipated results. Those risks include, but are not limited to, risks associated with product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development and competition from other products and treatments. For additional information about risk factors, please see the reports filed by the company with the SEC, including the company's Annual Report on Form 10-K for the year ended December 31, 2003. All forward-looking statements in this press release are made as of the date hereof, based on information available to the company as of the date hereof, and the company assumes no obligation to update or revise any of its forward- looking statements even if experience or future changes show that the indicated results or events will not be realized.
Atrix Laboratories, Inc.
CONTACT: Danette R.M. Meyer, Ph.D., Director of Investor Relations ofAtrix Laboratories, Inc., +1-970-482-5868, or Dmeyer@atrixlabs.com