Allergan, Parke-Davis Collaborate on Retinoid Compounds

Allergan, Inc. (Irvine, CA) recently announced the formation of a multi-year research and development collaboration with the Parke-Davis Pharmaceutical Research Division of Warner-Lambert Company to identify, develop and commercialize up to two RXR subtype selective retinoid compounds for the treatment of metabolic diseases, including adult onset diabetes, insulin resistant syndromes and dyslipidemias. The primary goal of the collaboration is to rapidly bring to market RXR retinoid compounds that demonstrate significant advantages over currently available therapies for the treatment of adult onset diabetes.

Under the terms of the agreement, Parke-Davis receives exclusive, worldwide development and commercialization rights for up to two RXR subtype selective retinoid preclinical lead compounds identified through the joint efforts of the two companies. In exchange, Allergan will have the opportunity to receive up to $104 million in technology access fees and development milestones, assuming successful development of both lead compounds. Allergan will also be entitled to royalties on net sales of developed products, depending on actual lead compound selection and sales results. Allergan has retained the right to co-promote the second successfully developed compound.

Warner-Lambert is a worldwide company devoted to discovering, developing, manufacturing and marketing quality pharmaceutical, consumer health care and confectionery products.

Allergan, Inc. is a technology-driven, global health care company focused on specialty pharmaceutical products.

For more information: Jeff Edwards, Allergan Inc. Tel: 714-246-4636.