Schering AG buys Abbott compound
Germany's Schering AG has acquired worldwide rights to develop andmarket the anti-dermatitis compound ABT-281 from Abbott Laboratories. Financial details of the deal were not disclosed but analysts believe that the product, a topical immunomodulator, could have peak sales of 100-200 million euros ($89.8-$179.6 million), after its anticipated launch, scheduled for the second half of the decade.
Schering said that ABT-281 has the potential to treat atopic dermatitis and other inflammatory skin diseases, and noted that the deal represents its strategy of globalizing its dermatology business, as well as complementing its existing portfolio. The latter segment accounted for around 7% of group sales last year of 4.50 billion euros.
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