Angiotech's corporate partner, Boston Scientific, announces FDA approval of second-generation TAXUS(R) Liberte(R) drug-eluting s
10 Oktober 2008 - 8:31PM
PR Newswire (US)
VANCOUVER, Oct. 10 /PRNewswire-FirstCall/ -- Angiotech
Pharmaceuticals, Inc. (NASDAQ:ANPINASDAQ:TSX:NASDAQ:ANP), a global
specialty pharmaceutical and medical device company, today reported
that its corporate partner, Boston Scientific Corporation
(NYSE:BSX) has received approval from the U.S. Food and Drug
Administration (FDA) to market its second-generation TAXUS(R)
Liberte(R) Paclitaxel-Eluting Coronary Stent System. Boston
Scientific plans to launch the TAXUS Liberte stent early next month
in the United States, following completion of the introduction of
its TAXUS(R) Expresss(2)(TM) Atom(TM) Paclitaxel-Eluting Coronary
Stent System, which was approved by the FDA last month. The TAXUS
Liberte stent was launched in Europe and other international
markets in 2005. "We believe the approval of TAXUS Liberte is a
clear indication that we have made significant progress toward
resolving the issues related to the Corporate Warning Letter," said
Jim Tobin, President and Chief Executive Officer of Boston
Scientific. "The US approvals of the TAXUS Liberte and Atom
represent the second and third generation of paclitaxel-eluting
coronary stents to be launched by Boston Scientific - at a time
when many others are still using first-generation technology. Over
this time, the paclitaxel platform has shown tremendous efficacy
and longevity in the treatment of millions of patients with
life-threatening heart disease, said Dr. William Hunter, President
and CEO of Angiotech. "Boston Scientific continues to make progress
advancing the TAXUS program and we believe it will be a mainstay of
therapy for many years to come." The TAXUS stent systems have been
evaluated by the industry's most extensive randomized, controlled
clinical trial program, with follow-up to five years in some cases.
These trial results have been supplemented by data on more than
35,000 patients enrolled in post-approval registries. To date,
approximately 4.6 million TAXUS stents have been implanted
globally, making them the world's most frequently used drug-eluting
stents. Cautionary Statement Regarding Forward-Looking Statements
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Statements contained in this press release that are not based on
historical fact, including without limitation statements containing
the words "believes," "may," "plans," "will," "estimate,"
"continue," "anticipates," "intends," "expects" and similar
expressions, constitute "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995 and "forward-looking information" within the meaning of
applicable Canadian securities laws. All such statements are made
pursuant to the "safe harbor" provisions of applicable securities
legislation. Forward-looking statements may involve, but are not
limited to, comments with respect to our objectives and priorities
for the second half of 2008 and beyond, our strategies or future
actions, our targets, expectations for our financial condition and
the results of, or outlook for, our operations, research
development and product and drug development. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, events or developments
to be materially different from any future results, events or
developments expressed or implied by such forward-looking
statements. Many such risks, uncertainties and other factors are
taken into account as part of our assumptions underlying these
forward-looking statements and include, among others, the
following: general economic and business conditions, both
nationally and in the regions in which we operate; market demand;
technological changes that could impact our existing products or
our ability to develop and commercialize future products;
competition; existing governmental regulations and changes in, or
the failure to comply with, governmental regulations; adverse
results or unexpected delays in pre-clinical and clinical product
development processes; adverse findings related to the safety
and/or efficacy of our products or products sold by our partners;
decisions, and the timing of decisions, made by health regulatory
agencies regarding approval of our technology and products; and the
requirement for substantial funding to conduct research and
development and to expand manufacturing and commercialization
activities or consummate acquisitions. In addition, our business is
subject to certain operating risks that may cause any results
expressed or implied by the forward-looking statements in this
press release to differ materially from our actual results. These
operating risks include: our ability to attract and retain
qualified personnel; our ability to successfully complete
pre-clinical and clinical development of our products; changes in
business strategy or development plans; our failure to obtain
patent protection for discoveries; loss of patent protection
resulting from third party challenges to our patents;
commercialization limitations imposed by patents owned or
controlled by third parties; our ability to obtain rights to
technology from licensors; liability for patent claims and other
claims asserted against us; our ability to obtain and enforce
timely patent and other intellectual property protection for our
technology and products; the ability to enter into, and to
maintain, corporate alliances relating to the development and
commercialization of our technology and products; market acceptance
of our technology and products; our ability to successfully
manufacture, market and sell our products; the continued
availability of capital to finance our activities; and any other
factors referenced in our other filings with the Securities and
Exchange Commission (the "SEC"). Given these uncertainties,
assumptions and risk factors, readers are cautioned not to place
undue reliance on such forward-looking statements. Except as
required by law, we disclaim any obligation to update any such
factors or to publicly announce the result of any revisions to any
of the forward-looking statements contained in this press release
to reflect future results, events or developments. Boston
Scientific Corporation acquired worldwide exclusive rights from
Angiotech to use paclitaxel on its coronary stent products and has
co-exclusive rights to certain peripheral vascular and non-vascular
products. About Angiotech Angiotech Pharmaceuticals, Inc. is a
global specialty pharmaceutical and medical device company with
over 1,500 dedicated employees. Angiotech discovers, develops and
markets innovative treatment solutions for diseases or
complications associated with medical device implants, surgical
interventions and acute injury. To find out more about Angiotech
(NASDAQ:ANPINASDAQ:TSX:NASDAQ:ANP), please visit our website at
http://www.angiotech.com/. DATASOURCE: Angiotech Pharmaceuticals,
Inc. CONTACT: DeDe Sheel, Investor Relations and Corporate
Communications, Angiotech Pharmaceuticals, Inc., (415) 293-4412,
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