Expenses in 2009 include EUR5.7m of royalties paid to Abbott due to the acquisition of Simdax
Orion and US-based Abbott Laboratories (NYSE: ABT) have started negotiations on the transfer of the marketing rights for the heart failure drug Simdax
Abbott Laboratories (Abbott Park, IL) and Orion Corporation (Espoo, Finland) have expanded their licensing agreement for the injectable formulation of levosimendan (marketed as Simdax
in most countries), Orion's proprietary drug for the treatment of acutely decompensated heart failure.
In all study participants, levosimendan (Simdax
) was initiated with an intravenous bolus of 24 [micro]g/kg of body weight (delivered over 10 min) followed by a continuous infusion of 0.1 [micro]g x [(kg body weight).sup.-1] x [min.sup.-1] for the next 50 min.
The new agreement expands Abbott Laboratories' licence to market the injectable formulation of Orion's proprietary drug levosimendan (Simdax) to include the European countries, with the exception of the Nordic countries.
"Due to the good operating profit for the first quarter, lower R&D expenditure than estimated earlier, as well as the signing fee from Abbott Laboratories for the revised licensing agreement concerning the heart failure drug Simdax, the consolidated full-year operating profit for the Orion Group is estimated to clearly improve from the previous year," Orion said.
Finnish pharmaceutical company Orion Corporation said on Thursday (2 October) that it had decided to withdraw its marketing authorisation application concerning the heart failure drug Simdax
from the review process of the German regulatory drug authority BfArM (Bundesinstitut fur Arzneimittel und Medizinprodukte).