OTCQX:MRVFF - Post by User
Post by
Cdninvstron Jan 30, 2010 8:44am
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Post# 16735437
Win Win Situation
Win Win Situation Covidien will need to announce by Feb 5, 2010 their intention to market Pennsaid and follow-on Pennsaid Plus to additional countries or forfeit that right to other players. I would love to see another deal with another company for China and India. People in those countries also have arthritic knees. Here's to next week! Cheers.
Covidien will assume responsibility for all future development activities and
expenses for Pennsaid Plus, including two Phase 3 clinical trials that Covidien
expects to commence in 2010. Covidien has a right to negotiate with Nuvo on an
exclusive basis for a period of 90 days to expand the licensed territory to include
additional unlicensed countries worldwide. Nuvo will manufacture and supply
Pennsaid and Pennsaid Plus to Covidien from its existing manufacturing facility
in Varennes, Québec.
The above excerpt was copies from the Nuvo website news release from June 2009.