Pfizer To Pay Royalties to Bayer
The US Patent Office has granted a new patent to the German pharmaceutical and chemical company Bayer relating to composition of matter of nifedipine crystals with various surface areas as the active ingredient in a sustained-release formulation of nifedipine.
This means that US drug company Pfizer, which markets sustained-release nifedipine under license from Bayer as Procardia XL, its best-selling product, may be required to pay higher royalties to the German company.
Pfizer announced a strong performance in the second quarter of 1994 last week (see pages 4 and 5), but added a warning following the US Patent Office decision that for the full year earnings per share would be towards the bottom of the range of expectations.
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