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Cygnus

Executive Summary

Ortho-McNeil agrees to acquire Cygnus' drug delivery technology platform and most of its products, including the nicotine patch Nicotrol, two hormone replacement transdermal products and the contraceptive patch Edra. McNeil Consumer Healthcare already markets Nicotrol in the U.S. Cygnus will receive $20 mil. at closing and the remaining $55 mil. will be contingent on the attainment of technical, regulatory and commercialization milestones for Edra. Ortho-McNeil expects to file an NDA for Edra in January. Cygnus plans to focus on its GlucoWatch device, which monitors glucose levels and is up for an FDA advisory committee review Dec. 6
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PS035193

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