Sepracor Shares Up On US Patent News
The share price of Sepracor rose 38% on the news that it had received a US patent for terfenadine carboxylate, a new version of the antihistamine Seldane, manufactured by Marion Merrell Dow.
The product is in Phase III trials sponsored by MMD and is expected to be on the market by 1997. An agreement with MMD means that Sepracor will get royalties on the sale of the drug beginning in March 1998, if it is approved by the US Food and Drug Administration.
An MMD spokesperson said that sales of the new version could be anywhere in the $200 million to $1 billion range. It was added that the product's lack of side effects increases the odds that this version could be sold eventually as an over-the-counter product.
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