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Elan’s Drug Research Corp.

Executive Summary

Naproxen is lead compound in DRC's IPDAS gastrointestinal protective drug absorption system development program, Elan said Nov. 16 in announcement of completion of unit rights offering in DRC. Company hopes to show that IPDAS naproxen has a better side effect profile when dosed once-daily, along with less gastric irritation and side effects. Elan hopes to commence clinicals in "very near future" in order to have product on market in 1994. Rights offering for RDC was 50% oversubscribed. Unit offering raised $43.2 mil. to develop two early stage drug delivery systems ("The Pink Sheet" Sept. 3, p. 14). Elan said early work on ETDAS electrotransport "wristwatch" system will focus on cardiovascular and anti-asthma products and narcotic analgesics.

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