ORDER YOURS TODAY! "A Must-Read
For Marketing
Professionals" Introducing
a new trade magazine for the new opportunities in African-American
marketing and media.
Copyright (c)
2008 by Target Market News Inc. All rights reserved
Business address:
228 S. Wabash Ave.
Suite 210
Chicago, IL 60604
t. 312-408-1881
f. 312-408-1867
info@targetmarketnews.com
NitroMed
announces sale of BiDil drug business to JHP Pharmaceuticals
(October 23, 2008) Targeted drug maker NitroMed Inc. plans to sell its
BiDil drug business to JHP Pharmaceuticals LLC for a possible $26.3
million. New Jersey-based JHP, a privately held specialty pharmaceutical
company, will buy the assets related to BiDil for $24.5 million in cash,
plus up to an additional $1.8 million for inventory at the closing date.
JHP will also assume all but some specified liabilities related to the
assets it is acquiring, according to officials. The companies say they
expect to complete the sale in early 2009.
According to NitroMed (Nasdaq: NTMD) officials, the deal has the backing
of a number of its investors, from firms including HealthCare Ventures
LLC, Rho Ventures and Invus Public Equities LP.
In January, Lexington-based NitroMed laid off most of its staff and
suspended marketing efforts for BiDil, a heart failure pill designed
specifically for African-American patients. BiDil is approved in the
United States as an adjunct to current standard therapies. At that time
the company said it planned to study an extended release implementation
of BiDil.
The company at that time also hired investment banking firm Cowen and
Co. LLC for advice on the firm’s strategic options.
NitroMed also reported its financial results for the third quarter which
ended Sept. 30. The company’s total revenues climbed slightly to $4
million, compared to $3.8 million for the same period in 2007. All of
that revenue came from sales of BiDil, officials said. NitroMed’s net
loss dropped to $400,000 for the quarter, compared to a net loss of $8.4
million last year.
Presentation
From:
AllHipHop.com
BlackWeb 2.0
Burrell Communications
Codeblack Interactive
Google
Lee Moss Media
Reach Media
RushmoreDrive.com
Synovate
The Media Audit
The Axis Ad Agency
UniWorld Group
...and more
Review Presentations From: Arbitron
GlobalHue
Hunter-Miller Group
Nia Enterprises
Radio One
R. L. Polk
Starcom MediaVest
U.S. Census Bureau
Yankelovich
...and others!
The
African-American
Book Publishing Authority Now
in its ninth year of publication, Black Issues Book Review is the
only nationally distributed magazine devoted exclusively to covering the
latest news and reviews on black books. BIBR also provides
up-to-date news on forthcoming author signings, book fairs and book
clubs.
Want this issue? Get it with your new
subscription.
Click Here
A TARGET MARKET
NEWS PUBLICATION
_________________________
Now
in its ninth year of publication, Black Issues Book Review is the
only nationally distributed magazine devoted exclusively to covering the
latest news and reviews on black books. BIBR also provides
up-to-date news on forthcoming author signings, book fairs and book
clubs.
