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World Leaders in Health Industry Analysis Drug Delivery Surveying the global competitive landscape December 2010

Drug Delivery - FDAnews€¦ · List of companies in this report 3M DDS Abraxis BioScience Access Pharmaceuticals Inc Acrux Ltd Alkermes Inc Apricus Biosciences Aptar Group ... Vivus

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Page 1: Drug Delivery - FDAnews€¦ · List of companies in this report 3M DDS Abraxis BioScience Access Pharmaceuticals Inc Acrux Ltd Alkermes Inc Apricus Biosciences Aptar Group ... Vivus

World Leaders in Health Industry Analysis

Drug DeliverySurveying the global

competitive landscape

December 2010

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Drug Delivery: Surveying the global competitive landscape

December 2010

ISBN: 978-1-85822-412-1

© Copyright 2010 Espicom Business Intelligence

All rights reserved. No part of this publication may be reproduced or used in any form or by any means graphic, electronic or mechanical, including photocopying, recording, taping or storage in information retrieval systems without the express permission of

the publisher.

Every care has been taken to ensure that the information contained in this report is correct. The publisher accepts no liability for decisions made on the basis of information contained herein.

British Library Cataloguing in Publication Data.

A catalogue record for this report is available from the British Library.

©Espicom Business Intelligence December 2010ii

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©Espicom Business Intelligence iiiDecember 2010

Drug Delivery: Surveying the global competitive landscape Table of Contents

List of companies in this report3M DDS

Abraxis BioScienceAccess Pharmaceuticals Inc

Acrux LtdAlkermes Inc

Apricus BiosciencesAptar Group

Aradigm CorporationArchimedes Pharma

Baxa CorporationBaxter International Inc

BioDelivery Sciences InternationalBioject Medical Technologies Inc

BioSante Pharmaceuticals IncCalando Pharmaceuticals

Camurus ABCareFusion

Celator PharmaceuticalsCell Therapeutics

CephalonCipher Pharmaceuticals

Columbia Laboratories IncConsort Medical

Cornerstone TherapeuticsCPEX Pharmaceuticals Inc

CyDex Pharmaceuticals Debiopharm

Delcath SystemsDepomed Inc

Durect Corporation DUSA Pharmaceuticals Inc

Echo TherapeuticsElan Corporation

Elite Pharmaceuticals IncEGEN Inc

Emisphere Technologies IncEncap Drug Delivery

Endo PharmaceuticalsEndocyteEnzon Inc

Epeius BiotechnologiesEthypharm S/A

EurandFlamel Technologies Inc

FzioMed IncGenerex Biotechnology Corporation

Gilead SciencesHospira

Ikano Therapeutics IncImmunoGen

Impax Laboratories IncInnocoll Technologies

Inovio PharmaceuticalsInSite Vision Inc

IntelGenxIntercell

KV Pharmaceutical

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Labopharm IncLavipharm Group

Light Sciences OncologyMannKind Corporation

Marina BiotechMaxCyte Inc

MedImmune IncMilestone Scientific

Moog Medical DevicesNanobiotix

NanoMaterials TechnologyNanoBio Corporation

NanoBioMagneticsNanoCarrier

Nanotherapeutics IncNanoVentures Australia

Nektar Therapeutics NeoPharm IncNeurotech SA

NovaDel Pharma IncNovagali Pharma

Novavax Inc Noven Pharmaceuticals IncOakwood Laboratories LLC

OctoPlusOrexo

Otsuka HoldingsPacira Pharmaceuticals Inc

PCI BiotechPhosphagenics Limited

Photocure ASAPolyTherics

pSividaQLT

Quest PharmaTechRaptor Pharmaceuticals

Retractable TechnologiesSavara Pharmaceuticals

Scolr Pharma Inc Seattle Genetics

Silence TherapeuticsSkinvisible Inc

SkyePharma PLCSoligenix

StarpharmaSupratek Pharma Inc

Tekmira PharmaceuticalsTelesso Technologies

Transdel PharmaceuticalsTransPharma Medical

Urigen PharmaceuticalsValeant Pharmaceuticals

Vectura LtdVical

Vivus IncZogenix

Zosano Pharma

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Table of Contents

Contents3M DRUG DELIVERY SYSTEMS ..........................................................................................................................1

KEY PERSONNEL ...............................................................................................................................................................................1COMPANY OVERVIEW .....................................................................................................................................................................1KEY MILESTONES .............................................................................................................................................................................1PRODUCTS / TECHNOLOGIES .........................................................................................................................................................2AGREEMENTS ....................................................................................................................................................................................6KEY FINANCIAL DATA .......................................................................................................................................................................7COMPETITION ...................................................................................................................................................................................7

ABRAXIS BIOSCIENCE INC .................................................................................................................................9KEY PERSONNEL ...............................................................................................................................................................................9COMPANY OVERVIEW .....................................................................................................................................................................9KEY MILESTONES .............................................................................................................................................................................9PRODUCTS / TECHNOLOGIES .......................................................................................................................................................10RESEARCH STRATEGY ....................................................................................................................................................................11AGREEMENTS ..................................................................................................................................................................................13KEY FINANCIAL DATA .....................................................................................................................................................................14

ACCESS PHARMACEUTICALS INC....................................................................................................................15KEY PERSONNEL .............................................................................................................................................................................15COMPANY OVERVIEW ...................................................................................................................................................................15KEY MILESTONES ...........................................................................................................................................................................15PRODUCTS / TECHNOLOGIES .......................................................................................................................................................16RESEARCH ACTIVITIES ...................................................................................................................................................................18AGREEMENTS ..................................................................................................................................................................................20KEY FINANCIAL DATA .....................................................................................................................................................................22COMPETITION .................................................................................................................................................................................22

ACRUX LTD ........................................................................................................................................................23KEY PERSONNEL .............................................................................................................................................................................23COMPANY OVERVIEW ...................................................................................................................................................................23KEY MILESTONES ...........................................................................................................................................................................23PRODUCTS / TECHNOLOGIES .......................................................................................................................................................24RESEARCH ACTIVITIES ...................................................................................................................................................................25AGREEMENTS ..................................................................................................................................................................................26KEY FINANCIAL DATA .....................................................................................................................................................................26

ALKERMES INC..................................................................................................................................................27KEY PERSONNEL .............................................................................................................................................................................27COMPANY OVERVIEW ...................................................................................................................................................................27KEY MILESTONES ...........................................................................................................................................................................27PRODUCTS / TECHNOLOGIES ......................................................................................................................................................28RESEARCH ACTIVITIES ..................................................................................................................................................................30AGREEMENTS ..................................................................................................................................................................................34KEY FINANCIAL DATA .....................................................................................................................................................................34COMPETITION .................................................................................................................................................................................35

APRICUS BIOSCIENCES INC .............................................................................................................................37KEY PERSONNEL .............................................................................................................................................................................37COMPANY OVERVIEW ...................................................................................................................................................................37KEY MILESTONES ...........................................................................................................................................................................37PRODUCTS / TECHNOLOGIES .......................................................................................................................................................38RESEARCH ACTIVITIES ...................................................................................................................................................................39AGREEMENTS ..................................................................................................................................................................................40

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KEY FINANCIAL DATA .................................................................................................................................................................... 40COMPETITION ................................................................................................................................................................................ 41

APTARGROUP .................................................................................................................................................. 43KEY PERSONNEL ............................................................................................................................................................................ 43COMPANY OVERVIEW .................................................................................................................................................................. 43KEY MILESTONES .......................................................................................................................................................................... 43PRODUCTS / TECHNOLOGIES ...................................................................................................................................................... 44KEY FINANCIAL DATA .................................................................................................................................................................... 45COMPETITION ................................................................................................................................................................................ 45

ARADIGM CORPORATION ...............................................................................................................................47KEY PERSONNEL ............................................................................................................................................................................ 47COMPANY OVERVIEW .................................................................................................................................................................. 47KEY MILESTONES .......................................................................................................................................................................... 47PRODUCTS / TECHNOLOGIES ...................................................................................................................................................... 48RESEARCH ACTIVITIES .................................................................................................................................................................. 48KEY FINANCIAL DATA .................................................................................................................................................................... 49COMPETITION ................................................................................................................................................................................ 50

ARCHIMEDES PHARMA ...................................................................................................................................51KEY PERSONNEL ............................................................................................................................................................................ 51COMPANY OVERVIEW .................................................................................................................................................................. 51KEY MILESTONES .......................................................................................................................................................................... 51PRODUCTS / TECHNOLOGIES ...................................................................................................................................................... 52RESEARCH STRATEGY ................................................................................................................................................................... 54AGREEMENTS ................................................................................................................................................................................. 55KEY FINANCIAL DATA .................................................................................................................................................................... 55ASSOCIATED COMPANIES ............................................................................................................................................................ 56

BAXA CORPORATION ...................................................................................................................................... 57KEY PERSONNEL ............................................................................................................................................................................ 57COMPANY OVERVIEW .................................................................................................................................................................. 57KEY MILESTONES .......................................................................................................................................................................... 57PRODUCTS / TECHNOLOGIES ...................................................................................................................................................... 58AGREEMENTS.................... ............................................................................................................................................................ 60KEY FINANCIAL DATA .................................................................................................................................................................... 60

BAXTER INTERNATIONAL INC .........................................................................................................................61KEY PERSONNEL ............................................................................................................................................................................ 61COMPANY OVERVIEW .................................................................................................................................................................. 61KEY MILESTONES .......................................................................................................................................................................... 61PRODUCTS / TECHNOLOGIES ...................................................................................................................................................... 62AGREEMENTS ................................................................................................................................................................................. 67KEY FINANCIAL DATA .................................................................................................................................................................... 68COMPETITION ................................................................................................................................................................................ 68

BIODELIVERY SCIENCES INTERNATIONAL .................................................................................................... 69KEY PERSONNEL ............................................................................................................................................................................ 69COMPANY OVERVIEW .................................................................................................................................................................. 69KEY MILESTONES .......................................................................................................................................................................... 69PRODUCTS / TECHNOLOGIES ...................................................................................................................................................... 69RESEARCH ACTIVITIES .................................................................................................................................................................. 72AGREEMENTS ................................................................................................................................................................................. 73KEY FINANCIAL DATA .................................................................................................................................................................... 73ASSOCIATED COMPANIES ............................................................................................................................................................ 73COMPETITION ................................................................................................................................................................................ 74

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BIOJECT MEDICAL TECHNOLOGIES INC .........................................................................................................75KEY PERSONNEL ............................................................................................................................................................................ 75COMPANY OVERVIEW .................................................................................................................................................................. 75KEY MILESTONE ............................................................................................................................................................................. 75PRODUCTS / TECHNOLOGIES ...................................................................................................................................................... 75RESEARCH ACTIVITIES .................................................................................................................................................................. 76AGREEMENTS ................................................................................................................................................................................. 78KEY FINANCIAL DATA .................................................................................................................................................................... 79COMPETITION ................................................................................................................................................................................ 79

BIOSANTE PHARMACEUTICALS INC ...............................................................................................................81KEY PERSONNEL ............................................................................................................................................................................ 81COMPANY OVERVIEW .................................................................................................................................................................. 81KEY MILESTONES .......................................................................................................................................................................... 81PRODUCTS / TECHNOLOGIES ...................................................................................................................................................... 82RESEARCH ACTIVITIES .................................................................................................................................................................. 84AGREEMENTS ................................................................................................................................................................................. 86KEY FINANCIAL DATA .................................................................................................................................................................... 87COMPETITION ................................................................................................................................................................................ 87

CALANDO PHARMACEUTICALS ..................................................................................................................... 89KEY PERSONNEL ............................................................................................................................................................................ 89COMPANY OVERVIEW .................................................................................................................................................................. 89KEY MILESTONES .......................................................................................................................................................................... 89PRODUCTS / TECHNOLOGIES ...................................................................................................................................................... 89RESEARCH ACTIVITIES .................................................................................................................................................................. 91AGREEMENTS ................................................................................................................................................................................. 91KEY FINANCIAL DATA .................................................................................................................................................................... 92

CAMURUS AB ................................................................................................................................................... 93KEY PERSONNEL ............................................................................................................................................................................ 93COMPANY OVERVIEW .................................................................................................................................................................. 93KEY MILESTONES .......................................................................................................................................................................... 93PRODUCTS / TECHNOLOGIES ...................................................................................................................................................... 93RESEARCH ACTIVITIES .................................................................................................................................................................. 96AGREEMENTS ................................................................................................................................................................................. 96KEY FINANCIAL DATA .................................................................................................................................................................... 97

CAREFUSION .................................................................................................................................................... 99KEY PERSONNEL ............................................................................................................................................................................ 99COMPANY OVERVIEW .................................................................................................................................................................. 99KEY MILESTONES .......................................................................................................................................................................... 99PRODUCTS ..................................................................................................................................................................................... 99AGREEMENTS ............................................................................................................................................................................... 101KEY FINANCIAL DATA .................................................................................................................................................................. 102COMPETITION .............................................................................................................................................................................. 102

CELATOR PHARMACEUTICALS INC .............................................................................................................. 103KEY PERSONNEL .......................................................................................................................................................................... 103COMPANY OVERVIEW ................................................................................................................................................................ 103KEY MILESTONES ........................................................................................................................................................................ 103PRODUCTS / TECHNOLOGIES ....................................................................................................................................................104R&D ACTIVITIES ........................................................................................................................................................................... 105AGREEMENTS ...............................................................................................................................................................................106KEY FINANCIAL DATA ..................................................................................................................................................................106

CELL THERAPEUTICS INC ...............................................................................................................................107

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KEY PERSONNEL .......................................................................................................................................................................... 107COMPANY OVERVIEW ................................................................................................................................................................ 107KEY MILESTONES ........................................................................................................................................................................ 107PRODUCTS / TECHNOLOGIES ....................................................................................................................................................108RESEARCH ACTIVITIES ................................................................................................................................................................108AGREEMENTS ................................................................................................................................................................................110KEY FINANCIAL DATA ...................................................................................................................................................................110

CEPHALON ......................................................................................................................................................111KEY PERSONNEL ...........................................................................................................................................................................111COMPANY OVERVIEW .................................................................................................................................................................111KEY MILESTONES .........................................................................................................................................................................111PRODUCTS ....................................................................................................................................................................................112R&D ACTIVITIES ............................................................................................................................................................................112AGREEMENTS ................................................................................................................................................................................114KEY FINANCIAL DATA ...................................................................................................................................................................116COMPETITION ...............................................................................................................................................................................116

CIPHER PHARMACEUTICALS .........................................................................................................................117KEY PERSONNEL ...........................................................................................................................................................................117COMPANY OVERVIEW .................................................................................................................................................................117KEY MILESTONES .........................................................................................................................................................................117PRODUCTS / TECHNOLOGIES .....................................................................................................................................................117R&D MILESTONES ........................................................................................................................................................................118AGREEMENTS ................................................................................................................................................................................119KEY FINANCIAL DATA ...................................................................................................................................................................119

COLUMBIA LABORATORIES INC ...................................................................................................................121KEY PERSONNEL .......................................................................................................................................................................... 121COMPANY OVERVIEW ................................................................................................................................................................ 121PRODUCTS / TECHNOLOGIES ................................................................................................................................................... 121RESEARCH ACTIVITIES ................................................................................................................................................................ 122AGREEMENTS ............................................................................................................................................................................... 123KEY FINANCIAL DATA .................................................................................................................................................................. 124COMPETITION .............................................................................................................................................................................. 125

CONSORT MEDICAL PLC ................................................................................................................................127KEY PERSONNEL .......................................................................................................................................................................... 127COMPANY OVERVIEW ................................................................................................................................................................ 127KEY MILESTONES ........................................................................................................................................................................ 127PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 127RESEARCH ACTIVITIES ................................................................................................................................................................ 129AGREEMENTS ............................................................................................................................................................................... 129KEY FINANCIAL DATA .................................................................................................................................................................. 130COMPETITION .............................................................................................................................................................................. 130

CORNERSTONE THERAPEUTICS....................................................................................................................131KEY PERSONNEL .......................................................................................................................................................................... 131COMPANY OVERVIEW ................................................................................................................................................................ 131KEY MILESTONES ........................................................................................................................................................................ 131PRODUCTS ................................................................................................................................................................................... 132RESEARCH ACTIVITIES ................................................................................................................................................................ 133AGREEMENTS ............................................................................................................................................................................... 134KEY FINANCIAL DATA .................................................................................................................................................................. 135ASSOCIATED COMPANIES .......................................................................................................................................................... 135

CPEX PHARMACEUTICALS INC ......................................................................................................................137

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KEY PERSONNEL .......................................................................................................................................................................... 137COMPANY OVERVIEW ................................................................................................................................................................ 137KEY MILESTONES ........................................................................................................................................................................ 137PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 137RESEARCH ACTIVITIES ................................................................................................................................................................ 138AGREEMENTS .............................................................................................................................................................................. 139KEY FINANCIAL DATA .................................................................................................................................................................. 139COMPETITION .............................................................................................................................................................................. 140

CYDEX PHARMACEUTICALS ..........................................................................................................................141KEY PERSONNEL .......................................................................................................................................................................... 141COMPANY OVERVIEW ................................................................................................................................................................ 141KEY MILESTONES ........................................................................................................................................................................ 141PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 141RESEARCH ACTIVITIES ................................................................................................................................................................144AGREEMENTS ............................................................................................................................................................................... 145KEY FINANCIAL DATA .................................................................................................................................................................. 145

DEBIOPHARM SA ............................................................................................................................................147KEY PERSONNEL .......................................................................................................................................................................... 147COMPANY OVERVIEW ................................................................................................................................................................ 147KEY MILESTONES ........................................................................................................................................................................ 147PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 148RESEARCH ACTIVITIES (as at August 2010) ............................................................................................................................. 149AGREEMENTS ............................................................................................................................................................................... 150KEY FINANCIAL DATA .................................................................................................................................................................. 151ASSOCIATED COMPANIES .......................................................................................................................................................... 151

DELCATH SYSTEMS INC .................................................................................................................................153KEY PERSONNEL .......................................................................................................................................................................... 153COMPANY OVERVIEW ................................................................................................................................................................ 153KEY MILESTONES ........................................................................................................................................................................ 153RESEARCH ACTIVITIES ................................................................................................................................................................ 154AGREEMENTS ............................................................................................................................................................................... 155KEY FINANCIAL DATA .................................................................................................................................................................. 155COMPETITION .............................................................................................................................................................................. 156

DEPOMED INC ................................................................................................................................................157KEY PERSONNEL .......................................................................................................................................................................... 157COMPANY OVERVIEW ................................................................................................................................................................ 157KEY MILESTONES ........................................................................................................................................................................ 157PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 157RESEARCH ACTIVITIES ................................................................................................................................................................ 158AGREEMENTS ............................................................................................................................................................................... 160KEY FINANCIAL DATA .................................................................................................................................................................. 161COMPETITION .............................................................................................................................................................................. 161

DURECT CORPORATION ............................................................................................................................... 163KEY PERSONNEL .......................................................................................................................................................................... 163COMPANY OVERVIEW ................................................................................................................................................................ 163KEY MILESTONES ........................................................................................................................................................................ 163PRODUCTS / TECHNOLOGIES ....................................................................................................................................................164RESEARCH ACTIVITIES .............................................................................................................................................................. 166AGREEMENTS ...............................................................................................................................................................................168KEY FINANCIAL DATA .................................................................................................................................................................. 169ASSOCIATED COMPANIES .......................................................................................................................................................... 169COMPETITION .............................................................................................................................................................................. 170

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DUSA PHARMACEUTICALS INC .....................................................................................................................171KEY PERSONNEL .......................................................................................................................................................................... 171COMPANY OVERVIEW ................................................................................................................................................................ 171PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 171AGREEMENTS ............................................................................................................................................................................... 173KEY FINANCIAL DATA ...................................................................................................................................................................174COMPETITION ...............................................................................................................................................................................174

ECHO THERAPEUTICS ....................................................................................................................................175KEY PERSONNEL .......................................................................................................................................................................... 175COMPANY OVERVIEW ................................................................................................................................................................ 175PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 175RESEARCH ACTIVITIES ................................................................................................................................................................ 177AGREEMENTS ............................................................................................................................................................................... 178KEY FINANCIAL DATA .................................................................................................................................................................. 178COMPETITION .............................................................................................................................................................................. 179

ELAN CORPORATION .....................................................................................................................................181KEY PERSONNEL .......................................................................................................................................................................... 181COMPANY OVERVIEW ................................................................................................................................................................ 181KEY MILESTONES ........................................................................................................................................................................ 181PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 182RESEARCH ACTIVITIES ................................................................................................................................................................ 185AGREEMENTS ...............................................................................................................................................................................188KEY FINANCIAL DATA .................................................................................................................................................................. 189

ELITE PHARMACEUTICALS INC .....................................................................................................................191KEY PERSONNEL .......................................................................................................................................................................... 191COMPANY OVERVIEW ................................................................................................................................................................ 191KEY MILESTONES ........................................................................................................................................................................ 191PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 191RESEARCH ACTIVITIES ................................................................................................................................................................ 192AGREEMENTS ............................................................................................................................................................................... 192KEY FINANCIAL DATA .................................................................................................................................................................. 193COMPETITION .............................................................................................................................................................................. 193

EGEN INC .........................................................................................................................................................195KEY PERSONNEL .......................................................................................................................................................................... 195COMPANY OVERVIEW ................................................................................................................................................................ 195KEY MILESTONES ........................................................................................................................................................................ 195PRODUCTS/TECHNOLOGIES ..................................................................................................................................................... 195RESEARCH ACTIVITIES ................................................................................................................................................................ 196AGREEMENTS ............................................................................................................................................................................... 197KEY FINANCIAL DATA .................................................................................................................................................................. 198

EMISPHERE TECHNOLOGIES INC ................................................................................................................. 199KEY PERSONNEL .......................................................................................................................................................................... 199COMPANY OVERVIEW ................................................................................................................................................................ 199KEY MILESTONES ........................................................................................................................................................................ 199PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 199RESEARCH ACTIVITIES ................................................................................................................................................................203AGREEMENTS ...............................................................................................................................................................................203KEY FINANCIAL DATA ..................................................................................................................................................................204COMPETITION ..............................................................................................................................................................................205

ENCAP DRUG DELIVERY ............................................................................................................................... 207KEY PERSONNEL ..........................................................................................................................................................................207

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COMPANY OVERVIEW ................................................................................................................................................................207PRODUCTS / TECHNOLOGIES ....................................................................................................................................................207AGREEMENTS ...............................................................................................................................................................................208KEY FINANCIAL DATA ..................................................................................................................................................................209

ENDO PHARMACEUTICALS ...........................................................................................................................211KEY PERSONNEL ...........................................................................................................................................................................211COMPANY OVERVIEW .................................................................................................................................................................211KEY MILESTONES .........................................................................................................................................................................211TECHNOLOGIES/PRODUCTS...................................................................................................................................................... 212TECHNOLOGIES (Penwest) ........................................................................................................................................................ 213R&D MILESTONES (Endo) .......................................................................................................................................................... 216AGREEMENTS (Endo) .................................................................................................................................................................. 218AGREEMENTS (Penwest) ............................................................................................................................................................ 219COMPETITION .............................................................................................................................................................................. 219KEY FINANCIAL DATA ..................................................................................................................................................................220

ENDOCYTE ..................................................................................................................................................... 221KEY PERSONNEL .......................................................................................................................................................................... 221COMPANY OVERVIEW ................................................................................................................................................................ 221KEY MILESTONES ........................................................................................................................................................................ 221PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 221RESEARCH ACTIVITIES ................................................................................................................................................................222AGREEMENTS ...............................................................................................................................................................................223KEY FINANCIAL DATA ..................................................................................................................................................................223

ENZON INC ..................................................................................................................................................... 225KEY PERSONNEL ..........................................................................................................................................................................225COMPANY OVERVIEW ................................................................................................................................................................225KEY MILESTONES ........................................................................................................................................................................225PRODUCTS / TECHNOLOGIES ....................................................................................................................................................226RESEARCH ACTIVITIES ................................................................................................................................................................228KEY FINANCIAL DATA ..................................................................................................................................................................230COMPETITION ..............................................................................................................................................................................230

EPEIUS BIOTECHNOLOGIES INC .................................................................................................................. 231KEY PERSONNEL .......................................................................................................................................................................... 231COMPANY OVERVIEW ................................................................................................................................................................ 231KEY MILESTONES ........................................................................................................................................................................ 231PRODUCTS/TECHNOLOGIES .....................................................................................................................................................232RESEARCH ACTIVITIES ................................................................................................................................................................233KEY FINANCIAL DATA ..................................................................................................................................................................234COMPETITION ..............................................................................................................................................................................234

ETHYPHARM S/A ........................................................................................................................................... 237KEY PERSONNEL ..........................................................................................................................................................................237COMPANY OVERVIEW ................................................................................................................................................................237KEY MILESTONES ........................................................................................................................................................................237PRODUCTS / TECHNOLOGIES ....................................................................................................................................................237RESEARCH ACTIVITIES ................................................................................................................................................................240AGREEMENTS ...............................................................................................................................................................................240KEY FINANCIAL DATA .................................................................................................................................................................. 241

EURAND ......................................................................................................................................................... 243KEY PERSONNEL .......................................................................................................................................................................... 243COMPANY OVERVIEW ................................................................................................................................................................ 243KEY MILESTONES ........................................................................................................................................................................ 243

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PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 243RESEARCH ACTIVITIES ................................................................................................................................................................ 247AGREEMENTS ............................................................................................................................................................................... 247KEY FINANCIAL DATA ..................................................................................................................................................................248

FLAMEL TECHNOLOGIES INC ....................................................................................................................... 249KEY PERSONNEL ..........................................................................................................................................................................249COMPANY OVERVIEW ................................................................................................................................................................249KEY MILESTONES ........................................................................................................................................................................249PRODUCTS / TECHNOLOGIES ....................................................................................................................................................249R&D ACTIVITIES ...........................................................................................................................................................................252AGREEMENTS ...............................................................................................................................................................................252KEY FINANCIAL DATA ..................................................................................................................................................................253COMPETITION ..............................................................................................................................................................................253

FZIOMED INC ................................................................................................................................................. 255KEY PERSONNEL ..........................................................................................................................................................................255COMPANY OVERVIEW ................................................................................................................................................................255KEY MILESTONES ........................................................................................................................................................................255PRODUCTS / TECHNOLOGIES ....................................................................................................................................................255RESEARCH ACTIVITIES ................................................................................................................................................................257AGREEMENTS ...............................................................................................................................................................................258KEY FINANCIAL DATA ..................................................................................................................................................................258

GENEREX BIOTECHNOLOGY CORPORATION .............................................................................................. 259KEY PERSONNEL ..........................................................................................................................................................................259COMPANY OVERVIEW ................................................................................................................................................................259KEY MILESTONES ........................................................................................................................................................................259PRODUCTS / TECHNOLOGIES ....................................................................................................................................................260RESEARCH ACTIVITIES ................................................................................................................................................................ 261AGREEMENTS ...............................................................................................................................................................................264KEY FINANCIAL DATA ..................................................................................................................................................................265COMPETITION ..............................................................................................................................................................................265

GILEAD SCIENCES .......................................................................................................................................... 267KEY PERSONNEL .......................................................................................................................................................................... 267COMPANY OVERVIEW ................................................................................................................................................................ 267KEY MILESTONES ........................................................................................................................................................................ 267PRODUCTS / TECHNOLOGIES ....................................................................................................................................................268RESEARCH ACTIVITIES ................................................................................................................................................................ 271AGREEMENTS ............................................................................................................................................................................... 274KEY FINANCIAL DATA .................................................................................................................................................................. 275

HOSPIRA ........................................................................................................................................................ 277KEY PERSONNEL ..........................................................................................................................................................................277COMPANY OVERVIEW ................................................................................................................................................................277KEY MILESTONES ........................................................................................................................................................................277PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 278RESEARCH ACTIVITIES ................................................................................................................................................................ 281AGREEMENTS ...............................................................................................................................................................................282KEY FINANCIAL DATA ..................................................................................................................................................................283

IKANO THERAPEUTICS INC .......................................................................................................................... 285KEY PERSONNEL ..........................................................................................................................................................................285COMPANY OVERVIEW ................................................................................................................................................................285KEY MILESTONES ........................................................................................................................................................................285PRODUCTS / TECHNOLOGIES ....................................................................................................................................................285

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RESEARCH ACTIVITIES ................................................................................................................................................................286AGREEMENTS ...............................................................................................................................................................................287KEY FINANCIAL DATA ..................................................................................................................................................................287

IMMUNOGEN ............................................................................................................................................... 289KEY PERSONNEL ..........................................................................................................................................................................289COMPANY OVERVIEW ................................................................................................................................................................289KEY MILESTONES ........................................................................................................................................................................289PRODUCTS / TECHNOLOGIES ....................................................................................................................................................289RESEARCH ACTIVITIES ................................................................................................................................................................290AGREEMENTS ............................................................................................................................................................................... 292KEY FINANCIAL DATA ..................................................................................................................................................................293

IMPAX LABORATORIES ................................................................................................................................. 295KEY PERSONNEL ..........................................................................................................................................................................295COMPANY OVERVIEW ................................................................................................................................................................295KEY MILESTONES ........................................................................................................................................................................295PRODUCTS / TECHNOLOGIES ....................................................................................................................................................296RESEARCH ACTIVITIES ................................................................................................................................................................298AGREEMENTS ...............................................................................................................................................................................299KEY FINANCIAL DATA ..................................................................................................................................................................300COMPETITON ...............................................................................................................................................................................300

INNOCOLL TECHNOLOGIES .......................................................................................................................... 301KEY PERSONNEL .......................................................................................................................................................................... 301COMPANY OVERVIEW ................................................................................................................................................................ 301KEY MILESTONES ........................................................................................................................................................................ 301PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 301RESEARCH ACTIVITIES ................................................................................................................................................................303AGREEMENTS ...............................................................................................................................................................................305KEY FINANCIAL DATA ..................................................................................................................................................................305

INOVIO PHARMACEUTICALS ........................................................................................................................ 307KEY PERSONNEL ..........................................................................................................................................................................307COMPANY OVERVIEW ................................................................................................................................................................307KEY MILESTONES ........................................................................................................................................................................307TECHNOLOGIES / PRODUCTS ....................................................................................................................................................307RESEARCH ACTIVITIES ................................................................................................................................................................308AGREEMENTS ................................................................................................................................................................................311KEY FINANCIAL DATA .................................................................................................................................................................. 312KEY COMPETITORS ..................................................................................................................................................................... 312

INSITE VISION INC ..........................................................................................................................................313KEY PERSONNEL .......................................................................................................................................................................... 313COMPANY OVERVIEW ................................................................................................................................................................ 313KEY MILESTONES ........................................................................................................................................................................ 313PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 313RESEARCH ACTIVITIES ................................................................................................................................................................ 315AGREEMENTS ............................................................................................................................................................................... 316KEY FINANCIAL DATA .................................................................................................................................................................. 317COMPETITION .............................................................................................................................................................................. 317

INTELGENX CORPORATION ...........................................................................................................................319KEY PERSONNEL .......................................................................................................................................................................... 319COMPANY OVERVIEW ................................................................................................................................................................ 319KEY MILESTONES ........................................................................................................................................................................ 319PRODUCTS / TECHNOLOGIES ....................................................................................................................................................320

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RESEARCH ACTIVITIES ................................................................................................................................................................ 321AGREEMENTS ...............................................................................................................................................................................322KEY FINANCIAL DATA ..................................................................................................................................................................323COMPETITION ..............................................................................................................................................................................323

INTERCELL AG ................................................................................................................................................ 325KEY PERSONNEL ..........................................................................................................................................................................325COMPANY OVERVIEW ................................................................................................................................................................325KEY MILESTONES ........................................................................................................................................................................325PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 326RESEARCH ACTIVITIES ............................................................................................................................................................... 327AGREEMENTS ..............................................................................................................................................................................328KEY FINANCIAL DATA ..................................................................................................................................................................329COMPETITION ..............................................................................................................................................................................329

KV PHARMACEUTICAL COMPANY ................................................................................................................331KEY PERSONNEL .......................................................................................................................................................................... 331COMPANY OVERVIEW ................................................................................................................................................................ 331KEY MILESTONES ........................................................................................................................................................................ 331PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 332AGREEMENTS ............................................................................................................................................................................... 333KEY FINANCIAL DATA ..................................................................................................................................................................334COMPETITION ..............................................................................................................................................................................334

LABOPHARM INC........................................................................................................................................... 335KEY PERSONNEL .......................................................................................................................................................................... 335COMPANY OVERVIEW ................................................................................................................................................................ 335KEY MILESTONES ........................................................................................................................................................................ 335PRODUCTS / TECHNOLOGIES ....................................................................................................................................................336RESEARCH ACTIVITIES ................................................................................................................................................................338AGREEMENTS ............................................................................................................................................................................... 339KEY FINANCIAL DATA ..................................................................................................................................................................340ASSOCIATED COMPANIES ..........................................................................................................................................................340COMPETITION ..............................................................................................................................................................................340

LAVIPHARM GROUP ...................................................................................................................................... 341KEY PERSONNEL .......................................................................................................................................................................... 341COMPANY OVERVIEW ................................................................................................................................................................ 341KEY MILESTONES ........................................................................................................................................................................ 341PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 341AGREEMENTS ...............................................................................................................................................................................343KEY FINANCIAL DATA ..................................................................................................................................................................344

LIGHT SCIENCES ONCOLOGY ....................................................................................................................... 345KEY PERSONNEL ..........................................................................................................................................................................345COMPANY OVERVIEW ................................................................................................................................................................345PRODUCTS / TECHNOLOGIES ....................................................................................................................................................345RESEARCH ACTIVITIES ................................................................................................................................................................346AGREEMENTS ...............................................................................................................................................................................347KEY FINANCIAL DATA ..................................................................................................................................................................347

MANNKIND CORPORATION ......................................................................................................................... 349KEY PERSONNEL ..........................................................................................................................................................................349COMPANY OVERVIEW ................................................................................................................................................................349KEY MILESTONES ........................................................................................................................................................................349PRODUCTS / TECHNOLOGIES ....................................................................................................................................................349RESEARCH ACTIVITIES ................................................................................................................................................................ 351

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AGREEMENTS ............................................................................................................................................................................... 352KEY FINANCIAL DATA .................................................................................................................................................................. 353COMPETITION .............................................................................................................................................................................. 353

MARINA BIOTECH ......................................................................................................................................... 355KEY PERSONNEL .......................................................................................................................................................................... 355COMPANY OVERVIEW ................................................................................................................................................................ 355 KEY MILESTONES ........................................................................................................................................................................ 355PRODUCTS / TECHNOLOGIES ....................................................................................................................................................356RESEARCH ACTIVITIES ................................................................................................................................................................ 357AGREEMENTS ............................................................................................................................................................................... 359KEY FINANCIAL DATA ..................................................................................................................................................................360COMPETITION ..............................................................................................................................................................................360

MAXCYTE INC .................................................................................................................................................361KEY PERSONNEL .......................................................................................................................................................................... 361COMPANY OVERVIEW ................................................................................................................................................................ 361PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 361AGREEMENTS ...............................................................................................................................................................................363KEY FINANCIAL DATA ..................................................................................................................................................................363

MEDIMMUNE INC .......................................................................................................................................... 365KEY PERSONNEL ..........................................................................................................................................................................365COMPANY OVERVIEW ................................................................................................................................................................365KEY MILESTONES ........................................................................................................................................................................365PRODUCTS / TECHNOLOGIES ....................................................................................................................................................366RESEARCH ACTIVITIES ................................................................................................................................................................ 367AGREEMENTS ...............................................................................................................................................................................368KEY FINANCIAL DATA ..................................................................................................................................................................369COMPETITION ..............................................................................................................................................................................369

MILESTONE SCIENTIFIC ................................................................................................................................ 371KEY PERSONNEL .......................................................................................................................................................................... 371COMPANY BACKGROUND .......................................................................................................................................................... 371KEY MILESTONES ........................................................................................................................................................................ 371PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 371AGREEMENTS ............................................................................................................................................................................... 373KEY FINANCIAL DATA .................................................................................................................................................................. 374COMPETITION .............................................................................................................................................................................. 374

MOOG MEDICAL DEVICES ............................................................................................................................375KEY PERSONNEL .......................................................................................................................................................................... 375COMPANY OVERVIEW ................................................................................................................................................................ 375KEY MILESTONES ........................................................................................................................................................................ 375PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 375AGREEMENTS ............................................................................................................................................................................... 376KEY FINANCIAL DATA .................................................................................................................................................................. 377

NANOBIOTIX .................................................................................................................................................. 379KEY PERSONNEL .......................................................................................................................................................................... 379COMPANY OVERVIEW ................................................................................................................................................................ 379PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 379RESEARCH ACTIVITIES ................................................................................................................................................................380AGREEMENTS ...............................................................................................................................................................................380KEY FINANCIAL DATA ..................................................................................................................................................................380

NANOMATERIALS TECHNOLOGY ................................................................................................................ 381

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KEY PERSONNEL .......................................................................................................................................................................... 381COMPANY OVERVIEW ................................................................................................................................................................ 381KEY MILESTONES ........................................................................................................................................................................ 381PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 381KEY FINANCIAL DATA ..................................................................................................................................................................382

NANOBIO CORPORATION ............................................................................................................................. 383KEY PERSONNEL ..........................................................................................................................................................................383COMPANY OVERVIEW ................................................................................................................................................................383KEY MILESTONES ........................................................................................................................................................................383PRODUCTS / TECHNOLOGIES ....................................................................................................................................................383RESEARCH ACTIVITIES ................................................................................................................................................................384AGREEMENTS ...............................................................................................................................................................................386KEY FINANCIAL DATA ..................................................................................................................................................................386

NANOBIOMAGNETICS .................................................................................................................................. 387KEY PERSONNEL ..........................................................................................................................................................................387COMPANY OVERVIEW ................................................................................................................................................................387PRODUCTS / TECHNOLOGIES ....................................................................................................................................................387AGREEMENTS ...............................................................................................................................................................................388KEY FINANCIAL DATA ..................................................................................................................................................................388ASSOCIATED COMPANIES ..........................................................................................................................................................388

NANOCARRIER .............................................................................................................................................. 389KEY PERSONNEL ..........................................................................................................................................................................389COMPANY OVERVIEW ................................................................................................................................................................389PRODUCTS / TECHNOLOGIES ....................................................................................................................................................389RESEARCH ACTIVITIES ................................................................................................................................................................390AGREEMENTS ............................................................................................................................................................................... 391KEY FINANCIAL DATA .................................................................................................................................................................. 392

NANOTHERAPEUTICS INC ........................................................................................................................... 393KEY PERSONNEL .......................................................................................................................................................................... 393COMPANY OVERVIEW ................................................................................................................................................................ 393KEY MILESTONES ........................................................................................................................................................................ 393PRODUCTS / TECHNOLOGIES ....................................................................................................................................................394RESEARCH ACTIVITIES ................................................................................................................................................................ 397AGREEMENTS ...............................................................................................................................................................................398KEY FINANCIAL DATA ..................................................................................................................................................................398

NANOVENTURES AUSTRALIA ...................................................................................................................... 399KEY PERSONNEL ..........................................................................................................................................................................399COMPANY OVERVIEW ................................................................................................................................................................399KEY MILESTONES ........................................................................................................................................................................399PRODUCTS / TECHNOLOGIES ....................................................................................................................................................399RESEARCH ACTIVITIES ................................................................................................................................................................400AGREEMENTS ...............................................................................................................................................................................400KEY FINANCIAL DATA ..................................................................................................................................................................400ASSOCIATED ACTIVITIES ............................................................................................................................................................400

NEKTAR THERAPEUTICS .............................................................................................................................. 403KEY PERSONNEL ..........................................................................................................................................................................403COMPANY OVERVIEW ................................................................................................................................................................403KEY MILESTONES ........................................................................................................................................................................403PRODUCTS / TECHNOLOGIES ....................................................................................................................................................403RESEARCH ACTIVITIES ................................................................................................................................................................405AGREEMENTS ...............................................................................................................................................................................408

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KEY FINANCIAL DATA ..................................................................................................................................................................409ASSOCIATED COMPANIES ..........................................................................................................................................................409COMPETITION ..............................................................................................................................................................................409

NEOPHARM INC ..............................................................................................................................................411KEY PERSONNEL ...........................................................................................................................................................................411COMPANY OVERVIEW .................................................................................................................................................................411KEY MILESTONES .........................................................................................................................................................................411PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 412AGREEMENTS ............................................................................................................................................................................... 414KEY FINANCIAL DATA .................................................................................................................................................................. 415

NEUROTECH ...................................................................................................................................................417KEY PERSONNEL .......................................................................................................................................................................... 417COMPANY OVERVIEW ................................................................................................................................................................ 417KEY MILESTONES ........................................................................................................................................................................ 417PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 417RESEARCH ACTIVITIES ................................................................................................................................................................ 419AGREEMENTS ............................................................................................................................................................................... 419KEY FINANCIAL DATA .................................................................................................................................................................. 420ASSOCIATED COMPANIES .......................................................................................................................................................... 420

NOVADEL PHARMA ....................................................................................................................................... 421KEY PERSONNEL .......................................................................................................................................................................... 421COMPANY OVERVIEW ................................................................................................................................................................ 421KEY MILESTONES ........................................................................................................................................................................ 421PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 421RESEARCH ACTIVITIES ................................................................................................................................................................422AGREEMENTS ............................................................................................................................................................................... 424KEY FINANCIAL DATA ..................................................................................................................................................................425COMPETITION ..............................................................................................................................................................................425

NOVAGALI PHARMA ..................................................................................................................................... 427KEY PERSONNEL .......................................................................................................................................................................... 427COMPANY OVERVIEW ................................................................................................................................................................ 427KEY MILESTONES ........................................................................................................................................................................ 427PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 427RESEARCH ACTIVITIES ................................................................................................................................................................428AGREEMENTS ...............................................................................................................................................................................430KEY FINANCIAL DATA ..................................................................................................................................................................430

NOVAVAX ...................................................................................................................................................... 431KEY PERSONNEL .......................................................................................................................................................................... 431COMPANY OVERVIEW ................................................................................................................................................................ 431KEY MILESTONES ........................................................................................................................................................................ 431PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 431RESEARCH ACTIVITIES ................................................................................................................................................................ 432AGREEMENTS ...............................................................................................................................................................................436KEY FINANCIAL DATA .................................................................................................................................................................. 437COMPETITION .............................................................................................................................................................................. 437

NOVEN PHARMACEUTICALS ........................................................................................................................ 439KEY PERSONNEL ..........................................................................................................................................................................439COMPANY OVERVIEW ................................................................................................................................................................439KEY MILESTONES ........................................................................................................................................................................439PRODUCTS / TECHNOLOGIES ....................................................................................................................................................439RESEARCH ACTIVITIES ................................................................................................................................................................441

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AGREEMENTS ...............................................................................................................................................................................441KEY FINANCIAL DATA ..................................................................................................................................................................442COMPETITION ..............................................................................................................................................................................442

OAKWOOD LABORATORIES LLC .................................................................................................................. 443KEY PERSONNEL ..........................................................................................................................................................................443COMPANY OVERVIEW ................................................................................................................................................................443KEY MILESTONES ........................................................................................................................................................................443PRODUCTS / TECHNOLOGIES ....................................................................................................................................................443RESEARCH ACTIVITIES ................................................................................................................................................................444AGREEMENTS ...............................................................................................................................................................................444KEY FINANCIAL DATA ..................................................................................................................................................................444

OCTOPLUS...................................................................................................................................................... 445KEY PERSONNEL ..........................................................................................................................................................................445COMPANY OVERVIEW ................................................................................................................................................................445KEY MILESTONES ........................................................................................................................................................................445PRODUCTS / TECHNOLOGIES ....................................................................................................................................................445AGREEMENTS ...............................................................................................................................................................................448KEY FINANCIAL DATA ..................................................................................................................................................................449

OREXO ............................................................................................................................................................ 451KEY PERSONNEL .......................................................................................................................................................................... 451COMPANY OVERVIEW ................................................................................................................................................................ 451KEY MILESTONES ........................................................................................................................................................................ 451PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 452RESEARCH ACTIVITIES ................................................................................................................................................................454AGREEMENTS ...............................................................................................................................................................................456KEY FINANCIAL DATA ..................................................................................................................................................................458COMPETITION .............................................................................................................................................................................458

OTSUKA HOLDINGS ...................................................................................................................................... 459KEY PERSONNEL .......................................................................................................................................................................... 459COMPANY OVERVIEW ................................................................................................................................................................ 459KEY MILESTONES ........................................................................................................................................................................ 459PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 459RESEARCH ACTIVITIES ................................................................................................................................................................464AGREEMENTS ..............................................................................................................................................................................464KEY FINANCIAL DATA ..................................................................................................................................................................466

PACIRA PHARMACEUTICALS INC ................................................................................................................. 467KEY PERSONNEL ..........................................................................................................................................................................467COMPANY OVERVIEW ................................................................................................................................................................467KEY MILESTONES ........................................................................................................................................................................467PRODUCTS / TECHNOLOGIES ....................................................................................................................................................467RESEARCH ACTIVITIES ................................................................................................................................................................469AGREEMENTS ...............................................................................................................................................................................469KEY FINANCIAL DATA .................................................................................................................................................................. 470COMPETITION .............................................................................................................................................................................. 470

PCI BIOTECH .................................................................................................................................................. 471KEY PERSONNEL .......................................................................................................................................................................... 471COMPANY OVERVIEW ................................................................................................................................................................ 471KEY MILESTONES ........................................................................................................................................................................ 471PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 471RESEARCH ACTIVITIES ................................................................................................................................................................ 472AGREEMENTS ............................................................................................................................................................................... 473

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KEY FINANCIAL DATA .................................................................................................................................................................. 473

PHOSPHAGENICS LIMITED ............................................................................................................................475KEY PERSONNEL .......................................................................................................................................................................... 475COMPANY OVERVIEW ................................................................................................................................................................ 475KEY MILESTONES ........................................................................................................................................................................ 475TECHNOLOGIES / PRODUCTS .................................................................................................................................................... 475RESEARCH ACTIVITIES ................................................................................................................................................................ 478AGREEMENTS ............................................................................................................................................................................... 479FINANCIALS ..................................................................................................................................................................................480

PHOTOCURE ASA .......................................................................................................................................... 481KEY PERSONNEL ..........................................................................................................................................................................481COMPANY OVERVIEW ................................................................................................................................................................481KEY MILESTONES ........................................................................................................................................................................481PRODUCTS / TECHNOLOGIES ....................................................................................................................................................482RESEARCH ACTIVITIES ................................................................................................................................................................483AGREEMENTS ...............................................................................................................................................................................485KEY FINANCIAL DATA ..................................................................................................................................................................486ASSOCIATED COMPANIES ..........................................................................................................................................................486

POLYTHERICS LTD ......................................................................................................................................... 487KEY PERSONNEL ..........................................................................................................................................................................487COMPANY OVERVIEW ................................................................................................................................................................487PRODUCTS / TECHNOLOGIES ....................................................................................................................................................487PRODUCTS ...................................................................................................................................................................................488AGREEMENTS ...............................................................................................................................................................................488KEY FINANCIAL DATA ..................................................................................................................................................................489

PSIVIDA .......................................................................................................................................................... 491KEY PERSONNEL .......................................................................................................................................................................... 491COMPANY OVERVIEW ................................................................................................................................................................ 491KEY MILESTONES ........................................................................................................................................................................ 491TECHNOLOGIES / PRODUCTS .................................................................................................................................................... 491RESEARCH ACTIVITIES ................................................................................................................................................................ 492AGREEMENTS ...............................................................................................................................................................................494KEY FINANCIAL DATA ..................................................................................................................................................................496

QLT .................................................................................................................................................................. 497KEY PERSONNEL ..........................................................................................................................................................................497COMPANY OVERVIEW ................................................................................................................................................................497KEY MILESTONES ........................................................................................................................................................................497PRODUCTS / TECHNOLOGIES ....................................................................................................................................................497RESEARCH ACTIVITIES ................................................................................................................................................................498AGREEMENTS ...............................................................................................................................................................................500KEY FINANCIAL DATA .................................................................................................................................................................. 501COMPETITION .............................................................................................................................................................................. 501

QUEST PHARMATECH ................................................................................................................................... 503KEY PERSONNEL ..........................................................................................................................................................................503COMPANY OVERVIEW ................................................................................................................................................................503KEY MILESTONES ........................................................................................................................................................................503PRODUCTS / TECHNOLOGIES ....................................................................................................................................................503RESEARCH ACTIVITIES ................................................................................................................................................................504AGREEMENTS ...............................................................................................................................................................................504KEY FINANCIAL DATA ..................................................................................................................................................................505

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RAPTOR PHARMACEUTICALS ...................................................................................................................... 507KEY PERSONNEL ..........................................................................................................................................................................507COMPANY OVERVIEW ................................................................................................................................................................507KEY MILESTONES ........................................................................................................................................................................507PRODUCTS / TECHNOLOGIES ....................................................................................................................................................507RESEARCH ACTIVITIES ................................................................................................................................................................ 510AGREEMENTS ............................................................................................................................................................................... 512KEY FINANCIAL DATA .................................................................................................................................................................. 513COMPETITION .............................................................................................................................................................................. 513

RETRACTABLE TECHNOLOGIES INC .............................................................................................................515KEY PERSONNEL .......................................................................................................................................................................... 515COMPANY OVERVIEW ................................................................................................................................................................ 515PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 515KEY FINANCIAL DATA .................................................................................................................................................................. 516COMPETITION .............................................................................................................................................................................. 517

SAVARA PHARMACEUTICALS INC ................................................................................................................519KEY PERSONNEL .......................................................................................................................................................................... 519COMPANY OVERVIEW ................................................................................................................................................................ 519KEY MILESTONES ........................................................................................................................................................................ 519PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 519KEY FINANCIAL DATA ..................................................................................................................................................................520

SCOLR PHARMA INC.......................................................................................................................................521KEY PERSONNEL .......................................................................................................................................................................... 521COMPANY OVERVIEW ................................................................................................................................................................ 521PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 521RESEARCH ACTIVITIES ................................................................................................................................................................522AGREEMENTS ..............................................................................................................................................................................522KEY FINANCIAL DATA ..................................................................................................................................................................523COMPETITION ..............................................................................................................................................................................523

SEATTLE GENETICS ....................................................................................................................................... 525KEY PERSONNEL ..........................................................................................................................................................................525COMPANY OVERVIEW ................................................................................................................................................................525KEY MILESTONES ........................................................................................................................................................................525PRODUCTS / TECHNOLOGIES ....................................................................................................................................................525RESEARCH ACTIVITIES ................................................................................................................................................................ 526AGREEMENTS ...............................................................................................................................................................................528KEY FINANCIAL DATA ..................................................................................................................................................................529COMPETITION ..............................................................................................................................................................................529

SILENCE THERAPEUTICS................................................................................................................................531KEY PERSONNEL .......................................................................................................................................................................... 531COMPANY OVERVIEW ................................................................................................................................................................ 531KEY MILESTONES ........................................................................................................................................................................ 531PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 531RESEARCH ACTIVITIES ................................................................................................................................................................ 532AGREEMENTS ............................................................................................................................................................................... 532KEY FINANCIAL DATA .................................................................................................................................................................. 533

SKINVISIBLE INC ............................................................................................................................................ 535KEY PERSONNEL .......................................................................................................................................................................... 535COMPANY OVERVIEW ................................................................................................................................................................ 535KEY MILESTONES ........................................................................................................................................................................ 535PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 535

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RESEARCH ACTIVITIES ................................................................................................................................................................536AGREEMENTS ............................................................................................................................................................................... 537KEY FINANCIAL DATA ..................................................................................................................................................................538COMPETITION ..............................................................................................................................................................................538

SKYEPHARMA PLC ........................................................................................................................................ 541KEY PERSONNEL .......................................................................................................................................................................... 541COMPANY OVERVIEW ................................................................................................................................................................ 541KEY MILESTONES ........................................................................................................................................................................ 541PRODUCTS / TECHNOLOGIES ....................................................................................................................................................542RESEARCH ACTIVITIES ................................................................................................................................................................547AGREEMENTS ...............................................................................................................................................................................547KEY FINANCIAL DATA ..................................................................................................................................................................548ASSOCIATED COMPANIES ..........................................................................................................................................................549COMPETITION ..............................................................................................................................................................................549

SOLIGENIX ......................................................................................................................................................551KEY PERSONNEL .......................................................................................................................................................................... 551COMPANY OVERVIEW ................................................................................................................................................................ 551KEY MILESTONES ........................................................................................................................................................................ 551PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 552RESEARCH ACTIVITIES ................................................................................................................................................................ 555AGREEMENTS ...............................................................................................................................................................................556KEY FINANCIAL DATA .................................................................................................................................................................. 557COMPETITION .............................................................................................................................................................................. 557

STARPHARMA ................................................................................................................................................ 559KEY PERSONNEL .......................................................................................................................................................................... 559COMPANY OVERVIEW ................................................................................................................................................................ 559KEY MILESTONES ........................................................................................................................................................................ 559PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 559RESEARCH ACTIVITIES ................................................................................................................................................................560AGREEMENTS ............................................................................................................................................................................... 561KEY FINANCIAL DATA ..................................................................................................................................................................562

SUPRATEK PHARMA INC .............................................................................................................................. 563KEY PERSONNEL ..........................................................................................................................................................................563COMPANY OVERVIEW ................................................................................................................................................................563KEY MILESTONES ........................................................................................................................................................................563PRODUCTS / TECHNOLOGIES ....................................................................................................................................................563RESEARCH ACTIVITIES ................................................................................................................................................................565KEY FINANCIAL DATA ..................................................................................................................................................................565

TEKMIRA PHARMACEUTICALS CORPORATION .......................................................................................... 567KEY PERSONNEL .......................................................................................................................................................................... 567COMPANY OVERVIEW ................................................................................................................................................................ 567KEY MILESTONES ........................................................................................................................................................................ 567PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 567RESEARCH ACTIVITIES ................................................................................................................................................................569AGREEMENTS ............................................................................................................................................................................... 571KEY FINANCIAL DATA ..................................................................................................................................................................573

TELESSO TECHNOLOGIES ..............................................................................................................................575KEY PERSONNEL .......................................................................................................................................................................... 575COMPANY OVERVIEW ................................................................................................................................................................ 575KEY MILESTONES ........................................................................................................................................................................ 575PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 575

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RESEARCH ACTIVITIES ............................................................................................................................................................... 578AGREEMENTS ............................................................................................................................................................................... 578KEY FINANCIAL DATA .................................................................................................................................................................. 579ASSOCIATED COMPANIES .......................................................................................................................................................... 579

TRANSDEL PHARMACEUTICALS INC ........................................................................................................... 581KEY PERSONNEL .......................................................................................................................................................................... 581COMPANY OVERVIEW ................................................................................................................................................................ 581KEY MILESTONES ........................................................................................................................................................................ 581PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 581RESEARCH ACTIVITIES ................................................................................................................................................................582AGREEMENTS ...............................................................................................................................................................................583COMPETITION ..............................................................................................................................................................................584KEY FINANCIAL DATA ..................................................................................................................................................................584

TRANSPHARMA MEDICAL ............................................................................................................................ 585KEY PERSONNEL .........................................................................................................................................................................585COMPANY OVERVIEW ................................................................................................................................................................585KEY MILESTONES ........................................................................................................................................................................585PRODUCTS / TECHNOLOGIES ....................................................................................................................................................585RESEARCH ACTIVITIES ................................................................................................................................................................587AGREEMENTS ...............................................................................................................................................................................588KEY FINANCIAL DATA ..................................................................................................................................................................589

URIGEN PHARMACEUTICALS ....................................................................................................................... 591KEY PERSONNEL .......................................................................................................................................................................... 591COMPANY OVERVIEW ................................................................................................................................................................ 591KEY MILESTONES ........................................................................................................................................................................ 591PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 592RESEARCH ACTIVITIES ................................................................................................................................................................594AGREEMENTS ............................................................................................................................................................................... 595KEY FINANCIAL DATA .................................................................................................................................................................. 595ASSOCIATED COMPANIES .......................................................................................................................................................... 595COMPETITION ............................................................................................................................................................................. 595

VALEANT PHARMACEUTICALS .................................................................................................................... 597KEY PERSONNEL .......................................................................................................................................................................... 597COMPANY OVERVIEW ................................................................................................................................................................ 597KEY MILESTONES ........................................................................................................................................................................ 597PRODUCTS / TECHNOLOGIES (VALEANT) ...............................................................................................................................598PRODUCTS / TECHNOLOGIES (BIOVAIL) ..................................................................................................................................599RESEARCH ACTIVITIES (VALEANT) ............................................................................................................................................601AGREEMENTS ..............................................................................................................................................................................602KEY FINANCIAL DATA ..................................................................................................................................................................604ASSOCIATED COMPANIES ..........................................................................................................................................................605COMPETITION (BIOVAIL) ............................................................................................................................................................605

VECTURA LTD ................................................................................................................................................ 607KEY PERSONNEL ..........................................................................................................................................................................607COMPANY OVERVIEW ................................................................................................................................................................607KEY MILESTONES ........................................................................................................................................................................607PRODUCTS / TECHNOLOGIES ....................................................................................................................................................607RESEARCH ACTIVITIES ................................................................................................................................................................ 610AGREEMENTS ............................................................................................................................................................................... 612KEY FINANCIAL DATA .................................................................................................................................................................. 613ASSOCIATED COMPANIES .......................................................................................................................................................... 613

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VICAL INC ........................................................................................................................................................615KEY PERSONNEL .......................................................................................................................................................................... 615COMPANY OVERVIEW ................................................................................................................................................................ 615KEY MILESTONES ........................................................................................................................................................................ 615PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 615RESEARCH ACTIVITIES ................................................................................................................................................................ 616AGREEMENTS ............................................................................................................................................................................... 619KEY FINANCIAL DATA ..................................................................................................................................................................620

VIVUS INC ....................................................................................................................................................... 621KEY PERSONNEL .......................................................................................................................................................................... 621COMPANY OVERVIEW ................................................................................................................................................................ 621KEY MILESTONES ........................................................................................................................................................................ 621PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 621RESEARCH ACTIVITIES ................................................................................................................................................................ 624AGREEMENTS ...............................................................................................................................................................................625KEY FINANCIAL DATA ..................................................................................................................................................................626COMPETITION ..............................................................................................................................................................................626

ZOGENIX INC .................................................................................................................................................. 627KEY PERSONNEL ..........................................................................................................................................................................627COMPANY OVERVIEW ................................................................................................................................................................627KEY MILESTONES ........................................................................................................................................................................627PRODUCTS / TECHNOLOGIES ....................................................................................................................................................627PRODUCTS ...................................................................................................................................................................................628RESEARCH ACTIVITIES ................................................................................................................................................................628AGREEMENTS ...............................................................................................................................................................................629KEY FINANCIAL DATA ..................................................................................................................................................................629

ZOSANO PHARMA ..........................................................................................................................................631KEY PERSONNEL .......................................................................................................................................................................... 631COMPANY OVERVIEW ................................................................................................................................................................ 631PRODUCTS / TECHNOLOGIES .................................................................................................................................................... 631RESEARCH ACTIVITIES ................................................................................................................................................................ 632KEY FINANCIAL DATA .................................................................................................................................................................. 632