Press Release
Abbott Announces Partnership with Velcera to Bring New Pain Medication for Dogs to Market
August 18, 2009
Abbott Park, Illinois (NYSE: ABT)
— Abbott announced today they have partnered with Velcera, Inc., a specialty
pharmaceutical company focused on pet health, to market the first canine pain
management product delivered in a transmucosal mist form. Currently in clinical
trials, the product combines the proven pain medication meloxicam, a
nonsteroidal anti-inflammatory drug (NSAID) with Velcera's patented Promist™
technology, and has been globally licensed for pain management in dogs.
"Abbott Animal Health is dedicated to bringing high quality and
innovative treatments to veterinarians and their clients," said Lynn
Bromstedt, divisional vice president, Abbott Animal Health. "This
revolutionary pain management product will be a great addition to Abbott's
existing animal health portfolio and could make medication compliance easier
for pet owners."
Promist™ technology delivers the active ingredient through a fine mist to
the inside cheek or oral cavity of the animal, where it is quickly absorbed
through the mucous membranes of the mouth. Studies show the product is
bioequivalent with oral liquid formulations, and bioavailability can be as much
as ten times that of a tablet formulation, depending on the active ingredient.
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In addition to convenience for pet owners, Promist™ technology has several
other advantages such as increased dosing confidence, faster absorption than
delivery with a tablet or liquid and less concern with food interactions.
"Being able to partner with a trusted company like Abbott on a product
of this nature is a testament to the importance of this technology," said
Dennis Steadman, chief executive officer, Velcera. "This agreement will
help bring this new treatment method to market for the benefit of pets and pet
owners."
The product will expand Abbott Animal Health's core focus areas, which
currently include products in the areas of diabetes, anesthesia, wound care and
fluid therapy, in addition to a recently announced partnership for one of the
first cancer medicines designed specifically for dogs.
Under the terms of the agreement, both parties have committed to consider
future product developments and registrations using the Promist™
technology.
About Velcera
Velcera (www.velcera.com) is a specialty pharmaceutical company focused on
innovation in the expanding pet health market. Velcera's product development
targets pet medicines that can provide superior convenience, value and
compliance. Product candidates based upon the patented Promist™ delivery
technology have the potential to improve pet health as pet parents avoid the
challenges of getting pets to swallow pills.
About Abbott Animal Health
Abbott Animal Health is dedicated to providing a better future for animals,
owners and veterinary professionals. Abbott Animal Health's continuing
education programs, comprehensive training tools, on-call expertise and
technical service set the standard in the industry. Abbott Animal Health
products are trusted at thousands of veterinary hospitals and clinics every
day.
About Abbott
Abbott (NYSE: ABT)
is a global, broad-based health care company devoted to the discovery,
development, manufacture and marketing of pharmaceuticals and medical products,
including nutritionals, devices and diagnostics. The company employs more than
72,000 people and markets its products in more than 130 countries.
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Internal Document. Overview of Company, Technology & Partnering
Opportunity to Abbott Animal Health. May 19, 2008. Page 20. Increased
Bioavailability. VEL502 Promist vs. Tablet Group Means, Canine. Chart.
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Media:
Tracy Sorrentino |
(847) 937-8712 |
