BAKER NORTON NEW LICENSE DEALS

Baker Norton Pharmaceuticals, a subsidiary of Ivax Corporation, has announced the acquisition of two new worldwide licenses from Universities in the USA.

The first license is from the Research Foundation of the State University of New York, for a series of drugs to treat angina pectoris, congestive heart disease and other cardiovascular disorders. The company says that the series of agents, developed at the university in Buffalo, are as effective in animal models as organic nitrates, which are presently the dominant form of therapy for angina and congestive heart failure, but do not appear to result in the development of tolerance to the therapy, as observed with nitrate products. Richard Pfenniger, a spokesperson for Ivax, told the Marketletter that the identity of the agents could not be revealed until certain patent matters had been resolved. Mr Pfenniger went on to add that the company expects to file a New Drug Application with the US Food and Drug Administration before the end of the year.

Philip Frost, chairman of Ivax, said that the discovery represents a major advance in the care of patients currently requiring organic nitrate therapy. It is estimated that around nine million people in the USA alone suffer from these conditions.