UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): May 3, 1999
MOLECULAR BIOSYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-10546 36-30878632
(State or other juris- (Commission file (IRS employer
diction of incorporation) number) identification number)
10030 Barnes Canyon Road, San Diego, California 92121
(Address of principal executive offices)
Registrant's telephone number, including area code: (619) 812-7200
<PAGE>
Item 5. Other Events.
Molecular Biosystems, Inc. and Mallinckrodt, Inc. Receive Notice of Lawsuit
On May 5, 1999, Molecular Biosystems, Inc. (the "Company") announced
that DuPont Pharmaceuticals Company ("DuPont") and ImaRx Pharmaceutical Corp.
("ImaRx") filed a lawsuit in the United States District Court for the District
of Delaware against MBI and its marketing partner Mallinckrodt, Inc. The
lawsuit alleges that the manufacture and sale of OPTISON(r) infringes
U.S. Patent No. 5,547,656 owned by ImaRx and exclusively licensed to DuPont.
A copy of the press release that the Company jointly issued with
Mallinckrodt, Inc., on May 5, 1999, is attached to this Report as Exhibit 99.1.
Mallinckrodt, Inc., is the Company's marketing partner for OPTISON in the
United States and most other regions of the world.
Statements in this current report on Form 8-K may constitute forward
looking statements and are subject to numerous risks and uncertainties. Among
the factors that could result in a materially different outcome are: the
failure of OPTISON to gain market acceptance either in the U.S. or other
markets; an adverse result in MBI's and Mallinckrodt's pending patent lawsuits,
including the lawsuit announced by DuPont and ImaRx, or an adverse ruling by
the PTO in the pending patent reexaminations; and other risk factors reported
from time to time in MBI's and Mallinckrodt's filings with the Securities and
Exchange Commission.
<PAGE>
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: May 12, 1999
Molecular Biosystems, Inc.
By /s/ Elizabeth L. Hougen
Elizabeth L. Hougen
Executive Director, Finance and Chief Financial Officer
<PAGE>
Exhibit Index
Sequentially
Exhibit Description Numbered Page
99.1 Press release (May 5, 1999) 5
Exhibit 99.1
FOR IMMEDIATE RELEASE
Molecular Biosystems Contacts:
Elizabeth Hougen, Chief Financial Officer (619) 812-7179
Patricia Sullivan, Manager, Investor Relations (619) 812-7146
Mallinckrodt Contacts:
Media Contact: Barbara Abbett, (314) 654-5230
E-mail: [email protected]
Investor Contact: Barbara Gould, (314) 654-3190
[email protected]
MBI and Mallinckrodt Receive Notice of Lawsuit
San Diego, California and St. Louis, Missouri, May 5, 1999 - Molecular
Biosystems, Inc. (NYSE: MB) and Mallinckrodt Inc. (NYSE: MKG) said today that
the two companies will aggressively defend their rights to manufacture and sell
OPTISON(r), the only advanced generation cardiac ultrasound imaging agent
commercially available in the United States and Europe.
The announcement was made after DuPont Pharmaceuticals Company ("DuPont") and
ImaRx Pharmaceutical Corp. ("ImaRx") filed a lawsuit in the United States
District Court for the District of Delaware against MBI and its marketing
partner Mallinckrodt. The lawsuit alleges that the manufacture and sale of
OPTISON infringes U.S. Patent No. 5,547,656 owned by ImaRx and exclusively
licensed to DuPont.
"MBI firmly believes that the patent is invalid and the manufacture and sale of
OPTISON does not infringe this patent," stated MBI's President and CEO Bobba
Venkatadri. He further stated, "We will take all actions necessary to preserve
MBI's and Mallinckrodt's right to manufacture and sell OPTISON." Bradley J.
Fercho, president of Mallinckrodt's Imaging Group, said that the two companies
expect to vigorously defend against the legal actions being pursued by their
competitors.
Developed by MBI and marketed in the United States and Europe by Mallinckrodt,
OPTISON is used in more than 1,600 hospitals and cardiology group practices in
the United States, Germany, Spain and the United Kingdom. MBI holds more than
60 valid patents worldwide protecting its proprietary microsphere technology,
which has enabled the development of OPTISON.
MBI, based in San Diego, California, is a world leader in developing contrast
agents for diagnostic imaging. Its innovative product, OPTISON, enables
improved diagnosis of heart disease through clearer ultrasound images.
Based in St. Louis, Missouri, Mallinckrodt has three healthcare product groups -
Imaging, Pharmaceuticals and Respiratory. It operates in more than 100
countries and had fiscal 1998 sales of $2.4 billion.
This news release contains forward-looking statements that involve risks and
uncertainties. Among the factors that could result in a materially different
outcome are: the failure of OPTISON to gain market acceptance either in the
U.S. or other markets; an adverse result in MBI's and Mallinckrodt's pending
patent lawsuits, including the lawsuit announced by DuPont and ImaRx, or an
adverse ruling by the PTO in the pending patent reexaminations; and other risk
factors reported from time to time in MBI's and Mallinckrodt's filings with the
Securities and Exchange Commission.
For More Information on Molecular Biosystems by Fax, Dial 888-329-4007, or
Visit its Website: www.mobi.com
For More Information on Mallinckrodt, Visit its Website: www.mallinckrodt.com
