MONTREAL, Nov. 30 /CNW Telbec/ - Sanofi-aventis Canada has announced a licensing agreement with Intelliject, Inc. for a novel epinephrine auto injector for the emergency treatment of allergic reactions (anaphylaxis) in North America (U.S and Canada).
"This agreement is in line with sanofi-aventis' diversification strategy. It is also a clear example of actions sanofi-aventis Canada is taking to move away from the traditional model of a pharmaceutical company into a true patient-centric healthcare solutions provider," states Hugh O'Neill, President and CEO sanofi-aventis Canada. "By taking a holistic approach in terms of offering not only products, but services as well as health information, and by redefining the value of such initiatives, we believe that we are setting a new standard of care in Canada".
In Canada, sanofi-aventis will be responsible for leading efforts required to obtain marketing authorization from Health Canada, and thereafter for marketing and selling the product.
Under the terms of the agreement, sanofi-aventis will make an upfront payment and Intelliject will be eligible for future milestone payments and royalties on product sales.
According to Health Canada, it is estimated that 600,000 Canadians may be affected by life-threatening allergies, and the numbers are increasing, especially among children.(1) Anaphylaxis is a severe allergic reaction that involves a number of body systems and can be fatal within minutes, either through swelling that shuts off airways or through a significant drop in blood pressure. Recent studies suggest that nearly 1 in 25 Americans are at risk for food allergy alone, a rate much higher than noted in the past. Canadian trends are thought to mirror those of the US, given similarities in lifestyle.(2)
Sanofi-aventis, a leading global pharmaceutical company, discovers, develops and distributes therapeutic solutions to improve the lives of everyone. Backed by a world-class R&D organization, the company is developing leading positions in several therapeutic areas: cardiology, thrombosis, oncology, metabolic disorders, the central nervous system, internal medicine and vaccines.
Sanofi-aventis is represented in Canada by the pharmaceutical company sanofi-aventis Canada Inc., based in Laval, Quebec, and by the vaccines company Sanofi Pasteur Limited, based in Toronto, Ontario. Together they employ more than 2,000 people across the country. With combined R&D investments of $211.5 million in 2008, they are leaders in Canada's pharmaceutical/biotech sector, a critical knowledge-based industry that generates jobs, business and opportunity throughout the country.
Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future events, operations, products and services, and statements regarding future performance. Forward-looking statements are generally identified by the words "expects," "anticipates," "believes," "intends," "estimates," "plans" and similar expressions. Although sanofi-aventis' management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of sanofi-aventis, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the public filings with the SEC and the AMF made by sanofi-aventis, including those listed under "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Statements" in sanofi-aventis' annual report on Form 20-F for the year ended December 31, 2008. Other than as required by applicable law, sanofi-aventis does not undertake any obligation to update or revise any forward-looking information or statements.
(1) http://www.hc-sc.gc.ca/hl-vs/iyh-vsv/med/allerg-eng.php, accessed Nov
(2) www.allergysafecommunities.ca, accessed Nov 2009
For further information: For further information: Christian Marcoux, Sanofi-aventis, (514) 956-4275; Stephanie Lyttle, NATIONAL Public Relations, (514) 842-2365