COPENHAGEN, Denmark, August 11, 2000 (PRIMEZONE) -- H. Lundbeck A/S announced today that the company has licensed the rights to the compound memantine - a drug for the treatment of the late and severe stages of Alzheimer's disease - from the German based pharmaceutical company Merz + Co GmbH. The agreement also comprises the rights to the indications vascular dementia, neuropathic pain and AIDS-related dementia.
According to the agreement Lundbeck acquires the exclusive rights to a series of European markets and the markets in Canada, Australia and South Africa. Lundbeck has acquired the semi-exclusive rights to co-market with Merz + Co on the remaining markets - worldwide - not including USA and Japan. Lundbeck's strategic partner Forest Laboratories, Inc holds the rights to the US market. For Japan memantine is under development by Merz' collaborating partner Suntory Ltd.
The European registration application will be submitted to EMEA in September 2000, and Lundbeck will launch the product immediately after approval.
Memantine is a compound with a large potential within the group of patients suffering from either Alzheimer's disease or vascular dementia in the advanced stages - patients for whom there are no regulatory approved treatment possibilities today. Memantine is expected to contribute significantly to Lundbeck's ambitious strategy of generating 20% of total turnover from inlicensed products in 2004.
Apart from an approved indication for the treatment of moderately severe to severe Alzheimer's disease Lundbeck will seek approval for the indications of vascular dementia, neuropathic pain and AIDS-related dementia.
"We are delighted to enter into this agreement with Merz. Merz has been very active within the CNS area, and we look forward to work closely with Merz in the years to come", says Lundbeck's President & CEO, Erik Sprunk-Jansen", and continues:
"I am very pleased that Lundbeck has succeeded in licensing memantine, which is a safe and efficient drug for the treatment of the advanced stage of Alzheimer's disease and vascular dementia - an area without efficient remedies today. I am convinced that memantine will become a very important product for Lundbeck - a product that will decisively place Lundbeck strongly within the neurological area."
"We are pleased to have with Lundbeck a well reputed and CNS-experienced strategic partner for the development and commercialisation of memantine in Europe and other parts of the world", says Dr Jochen Hueckmann, President & CEO of Merz + Co."
Memantine is an orally active, uncompetitive N-methyl-D-aspartate (NMDA) antagonist.
Memantine is the first NMDA receptor antagonist that has proven a positive effect on Alzheimer's disease and vascular dementia.
Merz + Co has completed a total of four phase III studies on the effect of memantine within moderately severe to severe Alzheimer's disease and/or mild to moderate vascular dementia - all with positive results.
The content of this release will not influence the Lundbeck Group's financial result for 2000.
Alzheimer's disease is a cerebral affection that causes certain types of brain cells to gradually deteriorate and perish. A series of psychological alterations appear in connection with the disease, such as failing memory, reduced perception and language derangement, which ultimately leads to the patient not being able to look after himself. With the disease also follows that the patients experience anxiety, confusion and anger as a result of loosing the above skills.
Alzheimer's disease affects approximately 5 per cent of the population in the age group 75-84 years, whereas up to 15 per cent of the population above the age of 85 is affected. Currently only 55 per cent of the people suffering from Alzheimer'' disease are diagnosed correctly and of these only 60 per cent receive treatment.
Merz + Co is a privately owned German research based pharmaceutical company with head offices in Frankfurt and a therapeutic focus on Central Nervous System diseases. The company has a turnover of approximately DEM 600 million and a staff of over 1500 employees. Further information is available at www.merz.de.
H. Lundbeck A/S is an international pharmaceutical company engaged in the research and development, production, marketing and sale of drugs for the treatment of psychiatric and neurological diseases. It had consolidated net turnover of DKK 3.2 billion in 1998 and employs approximately 2,700 people. Further information is available at www.lundbeck.com.