SCHERING CORP TO MARKET FELBAMATE

Schering Corp reports that it will have exclusive rights to market Carter-Wallace's N-methyl-D-aspartate receptor antagonist anticonvulsant felbamate worldwide, with the exception of Canada, Mexico, the USA and its territories and possessions.

Carter-Wallace submitted a New Drug Application for the compound in September last year, and US approval is pending. Under terms of the licensing agreement, C-W has received an initial, non-refundable license payment of $10 million and is to receive royalties on net sales of the product in areas covered by Schering.

According to Schering, the European market for anticonvulsants in 1991 totalled $350 million and $450 million on an international basis for territories in which Schering will be licensed to sell the drug.