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: June 18, 1998
MEDIMMUNE, INC.
(Exact name of registrant as specified in its charter)
Commission File Number: 0-19131
Delaware 52-1555759
(State of Incorporation) (I.R.S. Employer
Identification No.)
35 West Watkins Mill Road, Gaithersburg, MD 20878
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (301) 417-0770
No Exhibits are being filed with this report
CytoGam and RespiGam are registered trademarks of the Company and Synagis is
a trademark.
MEDIMMUNE, INC.
Current Report on Form 8-K
ITEM 5. OTHER EVENTS
MedImmune, Inc. reported the information contained in the following press
release dated June 16, 1998:
MEDIMMUNE BUYS OUT CERTAIN SYNAGIS ROYALTY OBLIGATIONS
-- Up-front payment would improve future margins
Gaithersburg, MD, June 16, 1998 -- MedImmune, Inc. (Nasdaq:MEDI) today
reported it has expended $10.25 million to secure paid-up licenses for
certain intellectual property rights for buy down royalty obligations owed to
certain third parties on domestic and international sales of Synagis
(palivizumab; previously identified as MEDI-493). This up-front payment
would improve future in order to improve its product gross margins if and
when Synagis is approved for marketing by the FDA because the Company will no
longer owe royalty payments for this intellectual property.. Synagis has
been evaluated for its safety and efficacy in preventing serious respiratory
syncytial virus (RSV) disease in high-risk infants and a Biologic License
Application (BLA) submitted by the Company in December, 1997 is currently
under review by the United States Food & Drug Administration. RSV is the
most common cause of pneumonia and bronchiolitis in infants and children.
MedImmune, Inc. is a biotechnology company focused on developing and
marketing products for the prevention and treatment of infectious diseases
and for use in transplantation medicine. MedImmune currently markets two
products through its hospital-based sales force and has five new product
candidates in clinical trials. MedImmune is located in Gaithersburg, MD.
This announcement may contain, in addition to historical information, certain
forward-looking statements that involve risks and uncertainties. Such
statements reflect MedImmune's current views and are based on certain
assumptions. Actual results could differ materially from those currently
anticipated as a result of a number of factors, including risks and
uncertainties discussed in MedImmune's filings with the U.S. Securities and
Exchange Commission. No assurance can be given that marketing approval of
Synagis will be obtained. MedImmune cautions that RSV disease occurs
primarily during the winter months; the Company believes its operating
results will reflect that seasonality for the foreseeable future.
(REGISTRANT) MEDIMMUNE, INC.
BY (SIGNATURE) /s/ David M. Mott
(NAME AND TITLE) David M. Mott, President and Chief Operating Officer
(Principal financial and accounting officer)
(DATE) June 18, 1998
