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Cardene IV

Chiesi Farmaceutici S.p.A.

Drug Names(s): Intravenous nicardipine

Description: Cardene (nicardipine HCl) is a calcium ion influx inhibitor (slow channel blocker or calcium channelblocker). The effects of nicardipine, a dihydropyridine (DHP) derivative, are more selective to vascular smooth muscle than cardiac muscle. In animal models, nicardipine produced relaxation of coronary vascular smooth muscle at drug levels which cause little or no negative inotropic effect.

Deal Structure: ESP and PDL
In April 2002, ESP Pharma, a privately held, hospital-focused pharmaceutical company, acquired several therapeutics from Wyeth, including Cardene IV. In March 2005, PDL completed its acquisition of ESP. Under the terms of the ESP Pharma acquisition agreement, all shares of ESP Pharma common and preferred stock were exchanged for 9,853,770 shares of PDL common stock and $325,000,000 in cash.

The product is patent protected through November 2009. This patent covers a process for producing the pharmaceutical composition being used in injectable form.

In February 2008, EKR Therapeutics and PDL BioPharma announced that they have entered into an agreement under which EKR would acquire the rights to PDL's Cardene I.V. and new formulations of Cardene in development, as well as Retavase (reteplase) and ularitide. Under the terms of the agreement, PDL would receive cash payments of $85 million at closing, up to an additional $85 million in...See full deal structure in Biomedtracker

Partners: PDL BioPharma, Inc.

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