Nuvo Pharmaceuticals Inc NRIFF

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[PLENRI]

I think this is your answer buyb4 Dimethaid enters Pennsaid Lotion agreement with McNeil 25 May 1999 Dimethaid International Inc has entered a 'standstill' agreement with McNeil Consumer Healthcare for the US distribution rights to Dimethaid's Pennsaid Lotion, for an undisclosed fee. Under the terms of the agreement, both parties have agreed to negotiate exclusively with each other, with the intention of concluding a comprehensive distribution agreement. The agreement will include terms under which McNeil will purchase Pennsaid Lotion exclusively from Dimethaid. ``While we have had discussions with a number of interested parties, we believe that McNeil is an ideal partner to market PENNSAID(R) Lotion in the United States,'' said Rebecca Keeler, President and Chief Executive Officer of Dimethaid Research Inc. ``They are a major pharmaceutical firm offering a number of well-known arthritis and pain management products in the US. We believe their in-depth knowledge of the arthritis market in the US will benefit both companies when it comes to marketing Pennsaid Lotion,'' Mrs. Keeler said. ``Nearly one-in-six Americans, or 40 million people, have some form of arthritis. It is the leading cause of disability in the US, costing their economy approximately $65 billion per year in medical costs and lost wages. Pennsaid Lotion represents an exciting new option for osteoarthritis patients for their treatment of pain. Its topical route of application will help deliver pain relief where it is most needed. By focusing drug therapy in this way, it offers the potential to reduce side effects often associated with oral drug therapy.'' Mrs. Keeler added. Pennsaid Lotion is a topically applied, site-specific prescription drug for the relief of pain associated with osteoarthritis. Upon receipt of regulatory approval, Pennsaid Lotion would be the only topical product competing in the multi-billion dollar American osteoarthritis market, which currently is served by selective and non-selective oral non-steroidal anti-inflammatory drugs (NSAIDs). Dimethaid's strategy is to leverage its proprietary transdermal delivery technology in numerous product offerings. Dimethaid International Inc. holds all non-Canadian commercial rights for any product utilizing the Company's proprietary transdermal delivery technology and is pursuing agreements for the marketing of Pennsaid Lotion in other geographic markets. Dimethaid Research Inc. is a pharmaceutical company engaged in the development and commercialization of site-specific therapeutic solutions that offer the potential to minimize the unwanted systemic effects of drug therapy on the body.