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Toyama Chemical agrees to out-license T-3811, a new-type quinolone synthetic antibacterial agent, to US firm Schering-Plough
March 31, 2004

Toyama Chemical Co., Ltd. (President: Katsuhiko Nakano) has agreed to grant global development, usage, and sell rights to US firm Schering-Plough Corporation (Chairman and CEO: Fred Hassan) for T-3811 (generic name: garenoxacin), a new-type quinolone synthetic antibacterial agent under development by Toyama Chemical. The parties hope to negotiate and execute definitive agreements within the next 2-3 months.

Overview of the agreement

1. Toyama Chemical will grant Schering-Plough Corporation exclusive rights to develop, use, and sell worldwide, excluding Japan, South Korea, and China.

2. The parties hope to negotiate and execute definitive agreements, within the next 2-3 months.

3. Toyama Chemical will receive payment of US$80 million after the definitive agreements are executed.

4. Toyama Chemical will also receive additional payments totaling up to US$245 million as various milestone stages in the compound's development and commercialization are reached.

5. Toyama Chemical will supply Schering-Plough Corporation with bulk product at an agreed price commensurate with sales.

About T-3811

T-3811 is a new-type quinolone synthetic antibacterial agent originated by Toyama Chemical . The drug initially licensed out to US firm Bristol-Myers Squibb and global clinical development was conducted by them. The clinical trials showed excellent results mainly in respiratory and surgical infections. Toyama Chemical reacquired all rights to T-3811 from Bristol-Myers Squibb in October 2003, for their commercial reasons.

Toyama Chemical Co., Ltd. constantly strives to supply the world with innovative treatment methods for infectious diseases. In collaboration with Schering-Plough Corporation, Toyama Chemical aims to achieve early approval and to grow T-3811 overseas.


Profile of Schering-Plough Corporation
Company name : Schering-Plough Corporation
Representative : Fred Hassan (Chairman and CEO)
Number of employees : Approximately 30,500
Net sales : US$8.3 billion (2003)
Business : Manufacture and sale of OTC and ethical drugs. Global pharmaceutical company in the fields of allergy/inflammation, infectious disease, oncology, cardiovascular, and CNS disorders.
Headquarters : 2000 Galloping Hill Road, Kenilworth, N.J. 07033-0530 USA
Fiscal year-end : December
Website : http://www.schering-plough.com/schering_plough/index.jsp
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