Nordic Drugs To Market Paclitaxel In Scandinavia

Nordic Drugs AB has signed a strategic agreement with Xechem International Inc. to distribute and market the paclitaxel drug in Denmark, Sweden, Finland, Norway and Iceland. Paclitaxel is commonly known as taxol (a registered trademark of Bristol-Myers Squibb).

Under the agreement, Nordic Drugs will have exclusive marketing and distribution rights in its territory for a term of ten years. The Company will submit the necessary application for obtaining regulatory approval of Xechem's paclitaxel product, as well as its new patented paclitaxel analogs and its new patented stable non-toxic formulation for paclitaxel, developed in conjunction with the M.D. Anderson Cancer Center.

Dr. Ramesh Pandey, president and CEO of Xechem, said: "Nordic Drugs AB is an ideal partner in the Nordic region. Its desire to join with Xechem in bringing paclitaxel to market in Europe and to work to bring our new patented formulation and analogs to market thereafter is exciting for both companies."

For more information: Leonard Mudry, Xechem International Inc., 100 Jersey Ave, Building B, Suite 310, New Brunswick, NJ 08901. Tel: 732-247-3300. Fax: 732-247-4090.