LYPHOMED AND VESTAR LIPOSOME COLLABORATION TO CONTINUE

Executive Summary

LYPHOMED AND VESTAR LIPOSOME COLLABORATION TO CONTINUE under a new agreement in-principle, announced Nov. 14. "All costs and profits of the joint venture will continue to be shared equally by LyphoMed and Vestar, but primary responsibilities for clinical research and marketing have been more specifically allocated between the parties," the companies stated in a joint release. Vestar, in late September, submitted a notice of termination of its original R&D agreement with LyphoMed ("The Pink Sheet" Oct. 3, T&G-5). That agreement was announced in March 1987. In September, Vestar characterized its communications with LyphoMed as "poor" and maintained that the generic injectables manufacturer had been "unwilling to hold discussions concerning the differences between the parties." The new agreement gives Vestar responsibility for clinical research on liposomal Amphotericin-B in North America and Europe. LyphoMed will be responsible for the clinical development of Amphotericin-B in Japan and for liposomal doxorubicin worldwide. Marketing responsibility for liposomal Amphotericin-B in Europe goes to Vestar and in the rest of the world to LyphoMed, which will also market the doxorubicin product worldwide. "Certain operational changes will also be made in the joint venture," the release notes.