8-K, EX-99.1, 2001-01-19
Next: NUVEEN UNIT TRUSTS SERIES 114, 497, 2001-01-19


                                                                    EXHIBIT 99.1



<S>                              <C>

Tim Lynch                         John Liu
Chief Financial Officer           Director, Corporate Communications
InterMune                         ALZA Corporation
650-409-2028                      650-564-5222
[email protected]              [email protected]
--------------------              -----------------

Lilian Stern                      Karen Bergman
Stern Investor Relations          Vice President, Corporate Investor Relations
212-315-0145                      ALZA Corporation
[email protected]                650-564-5222
------------------                [email protected]
Mark Shreve
Edelman Public Relations
[email protected]



(Nasdaq: ITMN) and ALZA Corporation (NYSE: AZA) announced today that
InterMune has acquired worldwide rights to Amphotec-Registered Trademark-
from ALZA. The transaction terms include an upfront license fee of $9.0
million, milestone payments based upon sales levels and the development of
Amphotec-Registered Trademark- in combination with ACTIMMUNE-Registered
Trademark-, and royalties payable upon net sales levels. Amphotec-Registered
Trademark- is an FDA-approved lipid-complexed form of amphotericin B
indicated for the treatment of invasive aspergillosis, a life-threatening
fungal infection.

Data published in the September 2000 issue of the JOURNAL OF ANTIMICROBIAL
CHEMOTHERAPY showed that in mouse models of cryptococcal fungal infection,
ACTIMMUNE-Registered Trademark- was synergistic with amphotericin B in
significantly reducing thE levels of infection. In one experiment, 78% of
mice were completely cured when ACTIMMUNE-Registered Trademark- was added to
conventional therapy with amphotericin B, compared to 10% with amphotericin B
alone. Several other published studies have shown similar results in systemic
fungal infections.

"Amphotec-Registered Trademark- is a solid fit for InterMune as it provides
synergy on two levels with our existing Actimmune-Registered Trademark-
programs", said W. Scott Harkonen, M.D., CEO and President of InterMune.
"First, it will provide us with the opportunity to develop
ACTIMMUNE-Registered Trademark- in combination with Amphotec-Registered
Trademark- for systemic fungal diseases. Towards the end of this year we are
expecting the results of our ongoing Phase II trial for ACTIMMUNE-Registered
Trademark- in combination with standard amphotericin B for cryptococcal
meningitis, a life-threatening systemic fungal infection. Second, it will
leverage our team of 60 field specialists, all of


whom will be trained and in place by July of this year. This gives them a
second product to speak about with physicians along with ACTIMMUNE-Registered

"We believe that Amphotec-Registered Trademark- has significant potential
given proper support in its target market. With InterMune's strength in
marketing ACTIMMUNE-Registered Trademark-, they are ideally positioned to
maximize the potential of Amphotec-Registered Trademark- in the infectious
disease market," said Sam Saks, M.D., Group Vice President of ALZA
Pharmaceuticals. "This agreement is consistent with ALZA's overall growth
strategy as we continue to strengthen our effective sales and marketing
presence in the oncology, central nervous system, primary care and urology

Amphotec-Registered Trademark- is sold outside of the United States as
Amphocil-Registered Trademark- in more than 20 countries. The product was
originally developed by SEQUUS Pharmaceuticals, Inc., which was acquired by
ALZA in 1999. Worldwide gross revenues for Amphotec-Registered Trademark-were
approximately $4 million in 2000. Amphotec-Registered Trademark- has not been
aggressively marketed to physicians for the past two years.

InterMune Pharmaceuticals, Inc. is a biotechnology company dedicated to the
development and commercialization of innovative products for the treatment of
serious pulmonary and infectious diseases and cancer. InterMune currently
markets ACTIMMUNE-Registered Trademark- (Interferon gamma-1b) Injection in
the United States for the treatment of chronic granulomatous disease (CGD)
and severe, malignant osteopetrosis. For more information about InterMune and
ACTIMMUNE-Registered Trademark-, please visit InterMune's web sites at and, or send e-mail to [email protected]

ALZA Corporation, headquartered in Mountain View, California, is a
research-based pharmaceutical company with leading drug delivery
technologies. The company applies its delivery technologies to develop
pharmaceutical products with enhanced therapeutic value for its own portfolio
and for many of the world's leading pharmaceutical companies. ALZA's sales
and marketing efforts are currently focused in urology, oncology and central
nervous system products. ALZA news releases can also be found on the World
Wide Web at

Except for the historical information contained herein, this press release
contains certain forward-looking statements, concerning the possible clinical
and financial benefits to InterMune in connection with its acquisition of
Amphotec-Registered Trademark-/Amphocil-Registered Trademark-, that involve
risks and uncertainties. All forward-looking statements and other information
included in this press release are based on information available as of the
date hereof, and InterMune and ALZA assume no obligation to update any such
forward-looking statements or information. InterMune's and ALZA's actual
results could differ materially from those


described in any forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to the following:
the possibilities that the product will be uneconomical to market, be precluded
from commercialization by the proprietary rights of third parties or fail to be
as commercially acceptable as and/or cost more than competitors' products. Other
factors that could cause or contribute to such differences include, but are not
limited to those discussed under the heading "Risk Factors" and the risks and
factors discussed in ALZA's most recent Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission; and InterMune's Registration Statement on
Form S-1, declared effective on November 8, 2000 by the Securities and Exchange
Commission (File No. 333-45460), and InterMune's most recent 10-Q filed with the
SEC. In sum, these significant risks include, but are not limited to: the
uncertainty of success of InterMune's efforts in product acceptance, third-party
manufacturing and capital raising; product liability lawsuits; uncertainties
associated with: obtaining and enforcing patents important to its business,
being an early-stage company and relying on third-party payors' reimbursement
policies; the uncertain, lengthy and expensive regulatory process; and
competition from other products.


© 2019 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission