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Executive Summary

REVLON FINDS FIDIA TO FILL PIPELINE: CRONASSIAL marketing rights in U.S. will go exclusively to USV/Armour, Revlon announced in a May 16 release. Under the agreement, Fidia will complete "the clinical investigation of the. . . ganglioside formulation in the U.S. for the indication of reducing or preventing severe neurological disturbances which often accompany certain forms of cancer chemotherapy." The market for ancillary drug products for use in cancer chemotherapy is projected to be one of the fastest growing oncology segments during the next five years (see related item below), The release notes that the clinical investigations will be completed by the U.S. subsidiary of the Italian firm, Fidia S.p.A. The Italian firm established a U.S. subsidiary in July as part of an effort to "establish reference points on important foreign markets." The objectives of the affiliate, Fidia S.p.A. explained, are to "encourage clinical research and coordinate clinical investigations" and to "provide for regulatory development of Fidia's original drugs; in particular to proceed to submission of NDAs for the products in development" ("The Pink Sheet" Dec. 10, T&G-2). Revlon also announced that under the agreement its "U.K. and French subsidiaries have obtained the right to market a formulation of hyaluronic acid, which has been shown to be useful in certain arthritic conditions." The firm said that it expects the product, currently registered in Italy under the trademark Hyalgan, to be registered "with the French health authorities within the next 12 months, while registration in the U.K. is expected shortly thereafter." In addition to Cronassial, USV has three new compounds in its pipeline: celiprolol HCI (a beta-blocker/antihypertensive); flordipine (an antihypertensive); and an angiotensin converting enzyme inhibitor which is currently in clinicals. Revlon's most recent licensing agreement prior to the Fidia deal was in March 1984, when Revlon announced an agreement between its Armour subsidiary and Behringwerke to market 10 of the Hoechst-Roussel unit's plasma derivative products in the U.S. The agreement also provided Armour with U.S. marketing rights to certain future new products developed by Behringwerke ("The Pink Sheet" April 2, 1984, P. 14).

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