BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Medicis Amends Strategic Alliance With aaiPharma Inc. (AAII)


10/19/2005 5:12:35 PM

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Jan. 28, 2005--Medicis (NYSE:MRX) today announced that the Company has amended its strategic alliance with aaiPharma Inc. (Nasdaq:AAII) initiated in June 2002 for the development, commercialization and license of an undisclosed, dermatologic product. The consummation of the amendment has not affected the timing of the development project. The amendment allows for the immediate transfer of the project's management and development to Medicis, and provides that aaiPharma will continue to assist Medicis with the development of the product on a fee for service basis. Medicis will have no future financial obligations to pay aaiPharma based on the attainment of clinical milestones, but will incur approximately $9 million as a research and development expense during the current quarter as part of the amendment and the assumption of all liabilities associated with the project. Intellectual property rights and work product as defined under the agreements developed in connection with the project remain the sole property of Medicis. Other than the current quarter assumption of research and development expenses, this amendment will not impact the Company's financial guidance.

Read at Reuters
Read at AP
Read at BioSpace.com

Reuters
AP
BioSpace.com
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES