Celgene lifted by new version of ADHD drug
Celgene has filed a New Drug Application with the US Food and DrugAdministration for a new, once-daily version of a drug used in the treatment of children with attention deficit hyperactivity disorder. Under a previously-announced deal, the filing for the new single-isomer version of the drug, d-methylphenidate, has triggered a $5 million milestone payment from Novartis, which markets the racemic form of methylphenidate under the trade name Ritalin.
Celgene granted Novartis an exclusive worldwide license for the development and marketing of d-MPH, excluding Canada where Biovail has rights. Celgene expects the US review to be completed in the third quarter of 2001.
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