Novo Nordisk signed an exclusive agreement with Sciele Pharma to market Prandin (repaglinide). Under the terms of the agreement, Sciele will exclusively market Prandin and, upon approval by the FDA PrandiMet (the name submitted to FDA for a repaglinide/metformin fixed dose combination tablet) to physicians in the U.S., and will have a right of first refusal to obtain marketing rights in the US to other Novo Nordisk products containing repaglinide, the active pharmaceutical ingredient in both Prandin and PrandiMet. Financial terms of the deal were not disclosed.
Sepracor announced on Nov. 27 that it received notice from the Securities and Exchange Commission that an investigation concerning the company’s historical stock option granting practices has been completed and that no enforcement action was recommended.
