Forest Laboratories Licenses Novel NMDA Receptor Antagonist from Merz + Co.

06-Jul-2001

Forest Laboratories, Inc. (NYSE: FRX) announced that it has entered into a license agreement for the development and marketing in the United States of neramexane, a patented novel NMDA receptor antagonist developed by Merz + Co. of Germany. Financial terms of the transaction were not disclosed. NDMA receptors mediate a number of neurological functions. In a program which has already commenced, neramexane will be investigated in Phase II studies for a broad range of possible indications. Merz is also the innovator of memantine, another NMDA receptor antagonist licensed to Forest, which is being developed for Alzheimer's disease and for neuropathic pain. Forest expects to file the NDA for the Alzheimer's indication for memantine this fiscal year. Forest's Chairman Howard Solomon stated: "We are pleased to expand our collaboration with Merz, a highly regarded company that has conducted extensive research in the area of NMDA receptors and their activity related to neurological and psychiatric illnesses. We look forward to continuing developments with Merz in this exciting area."

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