LAS VEGAS, Feb. 26, 2007 (PRIME NEWSWIRE) -- Samaritan Pharmaceuticals Inc. (AMEX:LIV) a developer of innovative drugs, is pleased to announce it has signed a marketing and distribution agreement, with Shire plc (LSE:SHP), (Nasdaq:SHPGY), (TSX:SHQ) to sell ELAPRASE(r) (idursulfase) for Hunter's disease, in Greece and Cyprus.
ELAPRASE(r) was granted marketing authorization, for the long-term treatment of patients with Hunter's disease, by the European Commission in January 2007. ELAPRASE is the first, and only, enzyme replacement therapy, for Hunter's disease patients and was launched in the U.S. in July 2006.
ELAPRASE(r) will be sold and distributed by Samaritan on a named patient basis until the pricing and the reimbursement of ELAPRASE(r) is established in Greece and Cyprus, with the relevant regulatory authorities. Samaritan expects to launch ELAPRASE in Greece and Cyprus by the beginning of the second quarter 2007.
Dr. Greeson, CEO of Samaritan Pharmaceuticals stated, "We are extremely pleased to acquire the rights to sell and distribute this crucial drug. Since it mostly affects children, it strikes at the core being of Samaritan, in that we want to be a part of making this drug available to children in the normally overlooked territories of Greece and Cyprus."
Hunter's disease is a rare hereditary disorder generally characterized by dwarfism, mental retardation and deafness. The disease affects almost exclusively males; cases in females are very rare but not unknown. It makes its first appearance during the first three years of life. An affected child may appear normal up to about 1 year of life. Most patients die before age 20.
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About Shire plc:
Shire's strategic goal is to become the leading specialty pharmaceutical company that focuses on meeting the needs of the specialist physician. Shire focuses its business on central nervous system, gastrointestinal, general products and human genetic therapies. The structure is sufficiently flexible to allow Shire to target new therapeutic areas to the extent opportunities arise through acquisitions. Shire believes that a carefully selected portfolio of products with a strategically aligned and relatively small-scale sales force will deliver strong results.
Shire's focused strategy is to develop and market products for specialty physicians. Shire's in-licensing, merger and acquisition efforts are focused on products in niche markets with strong intellectual property protection either in the U.S. or Europe.
For further information on Shire, please visit the Company's website: www.shire.com.
Disclaimer
The company disclaims any information that is created by an outside party and endorses only information that is communicated by its press releases, filings and Website. This news release contains forward-looking statements that reflect management's current beliefs about the potential for its drug candidates, science and technology. However, as with any biopharmaceutical under development, there are significant risks and uncertainties in the process of development and regulatory review. There are no guarantees that products will prove to be commercially successful. For additional information about the factors that affect the company's business, please read the company's latest Form 10-K/A filed November 2, 2006. The company undertakes no duty to update forward-looking statements.