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Ivax/Nycomed merger off: replaced by marketing alliance in U.S. and Europe.

Executive Summary

IVAX TO MARKET NYCOMED's NSAID LORNOXICAM: MERGER AGREEMENT OFF, the companies announced Nov. 15. Hafslund Nycomed will license North American rights to its non-steroidal anti-inflammatory agent for moderately severe pain to Ivax as part of a broad marketing alliance between the two firms. An NDA for lornoxicam has been filed, according to Nycomed materials distributed at a recent Oppenheimer & Co. conference in New York City. Ivax will also gain rights to Nycomed's hybrid toxin to treat brain tumors.

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