In Brief: Sepracor's R-ketoprofen
This article was originally published in The Tan Sheet
Executive Summary
Sepracor's R-ketoprofen: Firm is working with Bayer on its R-ketoprofen analgesic project and received $1 mil. in licensing fees from the firm in late 1994, according to a stock registration document filed by Sepracor with the SEC June 9. Sepracor CFO David Southwell misspoke at a May 11 conference sponsored by Dillon, Reed when he said the company is working with SmithKline Beecham ("The Tan Sheet" May 22, p. 7). Bayer acquired the rights to the R-ketoprofen when it bought the Sterling U.S. OTC drug business in late 1994 from SmithKline. Bayer holds worldwide OTC marketing rights to the compound and is funding product development. In addition to licensing fees, Sepracor will receive royalties on sales of the product and will negotiate a bulk compound supply agreement with Bayer, the prospectus says...
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