Under the terms of the agreement, Aventis will make an up-front payment to Novo Nordisk in 2001 for the exclusive licence to Novo Nordisk's patents. This is expected to increase Novo Nordisk's operating profit by close to DKK 250 million (DM 64 million) in 2001. Contingent on the commercial development of Lantus, the agreement will also have positive impact on Novo Nordisk's operating profit in 2003 and 2004. Aventis will amortise the up-front payment under the agreement over a period of seven years minimum, thereby having no significant impact on its annual earnings.
Additional terms of the agreement were not disclosed.
Novo Nordisk is a focused healthcare company and the world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as coagulation disorders, growth disorders and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society.
With headquarters in Denmark, Novo Nordisk employs approximately 14,000 people in 68 countries and markets its products in 179 countries. For further company information visit www.novonordisk.com
With headquarters in Denmark, Novo Nordisk employs approximately 14,000 people in 68 countries and markets its products in 179 countries. For further company information visit www.novonordisk.com
Aventis (NYSE: AVE), a world leader in pharmaceuticals and agriculture, is dedicated to improving life through the discovery and development of innovative products in the fields of prescription drugs, vaccines, therapeutic proteins, crop production and protection, animal health and nutrition. Aventis announced in November 2000 that it intends to focus on pharmaceuticals and plans to divest its activities in agriculture. With its global corporate headquarters in Strasbourg, France, Aventis employs around 95,000 people in more than 120 countries and recorded pro forma sales in 1999 of 20.5 billion euros. Aventis was launched in December 1999 through the merger of Hoechst AG of Germany and Rhône-Poulenc SA of France. For more information: www.aventis.com
Aventis Pharma AG is the pharmaceutical company of Aventis. Aventis Pharma is dedicated to treating and preventing human disease through the discovery, development, manufacture and sale of innovative pharmaceutical products aimed at satisfying unmet medical needs. Aventis Pharma focuses on important therapeutic areas such as cardiology, oncology, infectious diseases, arthritis, allergies and respiratory disorders, diabetes and the central nervous system disorders. Aventis Pharma has its corporate headquarters in Frankfurt, Germany. Aventis Pharma encompasses Aventis Pasteur, a world leader in vaccines based in Lyon, France, and Aventis Behring, a world leader in therapeutic proteins headquartered in King of Prussia, Pennsylvania, USA.
Statements in this news release other than historical information are forward-looking statements subject to risks and uncertainties. Actual results could differ materially depending on factors such as the availability of resources, the timing and effects of regulatory actions, the strength of competition, the outcome of litigation and the effectiveness of patent protection. Additional information regarding risks and uncertainties is set forth in the current Annual Reports on Form 20-F of the companies on file with the Securities and Exchange Commission.
For further information please contact:
Novo Nordisk
Media
Outside North America
Karsten Madsen
Tel (direct): (+45) 4442 4137
Outside North America
Karsten Madsen
Tel (direct): (+45) 4442 4137
In North America
Susan Toth Jackson
Tel: (+1) 212-867-0123
Susan Toth Jackson
Tel: (+1) 212-867-0123
Investors
Outside North America
Peter Haahr
Tel (direct): (+45) 4442 1207
Outside North America
Peter Haahr
Tel (direct): (+45) 4442 1207
Palle Holm Olesen
Tel (direct): (+45) 4442 6175
Tel (direct): (+45) 4442 6175
In North America
Rasmus Holm-Jørgensen
Tel (direct): (+1) 212-878-9607
Rasmus Holm-Jørgensen
Tel (direct): (+1) 212-878-9607
Aventis Pharma
Felicitas Feick
External Communications
Tel.: +49 69 305 4995
Fax: +49 69 305 83852
Felicitas.Feick@aventis.com
External Communications
Tel.: +49 69 305 4995
Fax: +49 69 305 83852
Felicitas.Feick@aventis.com