27 Apr 2007 - Orion has been informed by Abbott, the license holder for the intravenously administered formulation of levosimendan (trade name Simdax), an Orion-originated compound for acute decompensated heart failure, that Abbott has decided not to continue the development program for the product in the US, because it would not be commercially reasonable. Accordingly, the considered additional Phase 3 studies will not be conducted by Abbott. Abbott continues to assess feedback from discussions with European authorities.
Simdax will remain available in the markets where it already has been approved. The product has marketing authorisations or submitted applications in more than 40 countries.
Under a renewed licensing agreement concluded in April 2004, Abbott took over the development programme of the intravenously administered formulation of levosimendan and received also extended marketing rights to the product.
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