Abbott Labs, Triangle Pharmaceuticals Form Marketing Alliance

Abbott Laboratories (Abbott Park, IL) and Triangle Pharmaceuticals Inc. (Durham, NC) have formed a strategic marketing alliance for six antiviral products. In the US, the companies will co-promote the four Triangle products currently in development for HIV and hepatitis B (HBV), and Abbott's two HIV protease inhibitors (PIs). Outside the US, Abbott will have exclusive sales and marketing rights for the four Triangle antivirals— three nucleoside reverse transcriptase inhibitors (NRTIs) and one non-nucleoside reverse transcriptase inhibitor (NNRTI).

Among the four Triangle products Abbott will co-promote is Coactinon (emivirine), formerly known as MKC-442, an NNRTI currently in Phase III clinical trials. Triangle expects to file a New Drug Application (NDA) for Coactinon by the end of this year, while Abbott expects to submit a European application in mid-2000.

Triangle's Coviracil (emtricitabine), formerly known as FTC, an NRTI, is also in Phase III clinical trials for the treatment of HIV and in Phase I/II for HBV. An NDA for Coviracil for the treatment of HIV is expected to be filed in 2000 with a European filing expected in 2001. Abbott also expects to file an NDA for its investigational PI, ABT-378, in 2000.

The other two NRTIs included in the agreement are in earlier development stages. DAPD, an NRTI, is in Phase I/II for the treatment of HIV, with Phase I/II trials in HBV expected to begin later this year. Phase I/II trials with L-FMAU, a compound under investigation for the treatment of HBV, are also planned for late 1999.

Under the terms of the agreement, Abbott will purchase approximately 6.57 million shares of Triangle's Common Stock at $18 per share. The agreement also provides for non-contingent research funding of $31.7 million, up to $185 million of contingent development milestone payments, and the sharing of future commercialization costs. In addition, the two companies plan to execute a manufacturing agreement before closing that will allow Abbott to manufacture certain Triangle products worldwide.

Triangle and Abbott will share profits and losses for all Triangle drug candidates. Triangle will receive detailing fees and commissions on incremental sales they generate for Abbott's protease inhibitors. Abbott will have the right of first discussion to market future Triangle compounds.

Triangle Pharmaceuticals Inc. is engaged in the development of new drug candidates primarily in the antiviral area, with a particular focus on therapies for the human immunodeficiency virus, including the acquired immunodeficiency syndrome and the hepatitis B virus.

Abbott Laboratories is a global, diversified health care company devoted to the discovery, development, manufacture, and marketing of pharmaceutical, diagnostic, nutritional, and hospital products.

For more information: Arthur Higgins, Senior VP of Pharmaceutical Operations, Abbott Laboratories, 100 Abbott Park Rd., Abbott Park, IL 60064-6400. Tel: 847-937-6100. Fax: 847-937-1511.