Schering-Plough, Novartis Amend Respiratory Drug Development Contract
Tue, 05/19/2009 - 4:35am
NEW YORK (AP) — Schering-Plough Corp. and Novartis AG said Tuesday they have amended their development and sales deal for respiratory drugs, with both assuming rights to different compounds. Under the new terms, Kenilworth, N.J.-based Schering-Plough assumes exclusive worldwide rights to develop and sell a fixed-dose combination of its inhaled allergy drug Asmanex and Novartis' Foradil asthma drug. Meanwhile, Switzerland-based Novartis will assume exclusive worldwide rights to develop and sell a fixed-dose combination of Schering-Plough's inhaled mometasone furoate and indaceterol, the latter of which is being developed by Novartis. The companies have partnered to develop respiratory treatments since 2002.