Aventis Ends Peptor Collaboration
Main Category: Public HealthArticle Date: 17 May 2004 - 0:00 PDT
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Aventis has returned development rights for DiaPep277™ for type 1diabetes to DeveloGen and ended its collaborative agreement on that compound with DeveloGen. At this point, Aventis has determined the development project no longer meets its corporate business priority criteria for progression, and has decided to focus on other compounds in its diabetes pipeline. Details were not disclosed.
About Aventis
Aventis is dedicated to treating and preventing disease by discovering and developing innovative prescription drugs and human vaccines. In 2003, Aventis generated sales of € 16.79 billion, invested € 2.86 billion in research and development and employed approximately 69,000 people in its core business. Aventis corporate headquarters are in Strasbourg, France. For more information, please visit: www.aventis.com
Statements in this news release containing projections or estimates of revenues, income, earnings per share, capital expenditures, capital structure, or other financial items; plans and objectives relating to future operations, products, or services; future economic performance; or assumptions underlying or relating to any such statements, are forward-looking statements subject to risks and uncertainties.
Actual results could differ materially depending on factors such as the timing and effects of regulatory actions, the results of clinical trials, the company's relative success developing and gaining market acceptance for new products, the outcome of significant litigation, and the effectiveness of patent protection. Additional information regarding risks and uncertainties is set forth in the current Annual Report on Form 20-F of Aventis on file with the Securities and Exchange Commission and in the current Annual Report -"Document de Référence"- on file with the "Commission des Opérations de Bourse" in France.
Pursuant to Article 7 of the COB Regulation no. 2002-04, this press release was transmitted to the Autorité des marchés financiers before its release.
Aventis Press Release
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15 Feb. 2012. <http://www.medicalnewstoday.com/releases/8374.php>
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Visitor Opinions In Chronological Order (2)
Should we be surprised by Aventis Pulling the Plug on a Drug that Has Potential to Cure A Form of Diabetes?
posted by sstrumello on 1 Dec 2005 at 9:41 pmThis news is not surprising, as Aventis (now Sanofi-Aventis) believes it will be more profitable to continue selling its current diabetes drugs (insulin, etc.) than it would be to sell a drug that destroys the market for a profitable drug like insulin. The only problem with this concept is if another company commercializes this drug. While big pharma does not generally do this to one another, they will happily acquire a start-up who goes through the painful and expensive process of commercializing a drug like this. Also, historically, its been far cheaper to do so, rather than risk harming a profitable cash cow rather than funding risky propositions like this.
treatment not cure IS more profitable
posted by Gemma Nichols on 3 Dec 2005 at 8:08 pmDrug companies are in business to make money. Curing diseases would be commercial suicide to an industry that thrives on sickness. Arthritis remedies have been one of the biggest money spinners of all time. Arthritis sufferes need a life time of medication. Imagine the loss of profits if a simple drug could cure it. The same now applies to to Aids and cancer that have become big earners for long term treatments.
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