Solvay Pharmaceuticals Discontinues R&D Activities of its Anti-Obesity Compound SLV319
BRUSSEL, Belgium, Nov. 17, 2008-Solvay Pharmaceuticals announced today its decision to discontinue all R&D activities for its investigational compound SLV319. This compound, a selective cannabinoid type 1 antagonist, was currently in phase 2 development for the treatment of obesity. The phase-2 results recently confirmed its clinical activity and its efficacy.
As announced in the nine month results press release of 30 October, Solvay Pharmaceuticals was analyzing the next step for the development of this molecule in the current regulatory framework, after the return of worldwide rights to Solvay at the end of September 2008.
“While the discontinuation is not related to any adverse events or the efficacy of the compound, we have made this decision after careful evaluation of the current regulatory environment, leading to new and high regulatory hurdles for approval of a compound of this class”, said Dr Claus Steinborn, Head of Global R&D, Solvay Pharmaceuticals.
SOLVAY PHARMACEUTICALS is a research driven group of companies that constitutes the global pharmaceutical business of the Solvay Group. These companies seek to fulfill carefully selected, unmet medical needs in the therapeutic areas of neuroscience, cardiometabolic, influenza vaccines, gastroenterology and men's and women's health. Its 2007 sales were EUR 2.6 billion, and it employs more than 9,000 people worldwide.
SOLVAY GROUP is an international chemical and pharmaceutical Group with headquarters in Brussels. It employs more than 28,000 people in 50 countries. In 2007, its consolidated sales amounted to EUR 9.6 billion, generated by its three sectors of activity: Chemicals, Plastics and Pharmaceuticals. Solvay is listed on the NYSE Euronext stock exchange in Brussels (NYSE Euronext: SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR). Details are available at www.solvay.com.
For further information please contact :
Dr WERNER VAN DEN EYNDE , Pharmaceutical Communications
SOLVAY PHARMACEUTICALS B.V
Tel: 32 2 509 62 27
E-mail : firstname.lastname@example.org
Patrick Verelst , Investor Relations
Tel: 32 2 509 72 43
Fax: 32 2 509 72 40
E-mail : email@example.com
Erik De Leye , Corporate Press Officer
SOLVAY SA Headquarters
Tel: 32 2 509 72 30
Fax: 32 2 509 72 40
E-mail : firstname.lastname@example.org
Posted: November 2008