Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Galen Hldgs (WCRX)

  Print      Mail a friend

Wednesday 02 April, 2003

Galen Hldgs

Re: Agreements

Galen Holdings PLC
02 April 2003

                               GALEN HOLDINGS PLC





Craigavon, Northern Ireland UK / Rockaway, New Jersey, US, 2 April 2003:  Galen
Holdings PLC (LSE:  GAL, NASDAQ: GALN) today announced that it has entered into
a Co-promotion Agreement with Bristol-Myers Squibb Company (NYSE: BMY) for
Dovonex(R) in the United States.  Dovonex(R) (calcipotriene), a treatment for
mild to moderate psoriasis is currently marketed in the United States by
Bristol-Myers Squibb under license from LEO Pharma A/S, the Danish
pharmaceutical company.  Net sales of Dovonex(R) in the US in 2002 were $126

Concurrent with the agreement with Bristol-Myers Squibb, Galen is entering into
a Development Agreement with LEO Pharma to develop Dovobet(R), LEO Pharma's
combination product containing calcipotriene and betamethasone dipropionate, for
the United States market.

Co-Promotion  Agreement - Dovonex(R)

Under the Co-promotion Agreement, Galen will be compensated by Bristol-Myers
Squibb based on an agreed formula relating to the sales levels of Dovonex(R).
In addition, Galen has also entered into an Option Agreement with Bristol-Myers
Squibb whereby, between now and January 1, 2006, Galen can offer to purchase
Bristol-Myers Squibb's rights to the product.  The term of the Co-promotion
Agreement is until December 31, 2007 or until the option is exercised, whichever
is earlier.  The option may be exercised by Galen on any of three dates: August
1, 2003, August 1, 2004 and August 1, 2005; however, Bristol-Myers Squibb can
refuse to sell its rights to Dovonex(R) prior to August 1, 2005.  If Galen
exercises its option on August 1, 2005, Bristol-Myers Squibb is obliged to
conclude the purchase transaction.  Any purchase would be targeted for a closing
in January following the option exercise.  The terms of any purchase have been
pre-negotiated by the parties, and vary depending on the option exercise date.
The parties have agreed to keep the terms of the option agreement confidential.

Development  Agreement - Dovobet(R)

Concurrent with the agreement with Bristol-Myers Squibb, Galen is entering into
a Development Agreement with LEO Pharma to develop Dovobet(R), its combination
product containing calcipotriene and betamethasone dipropionate that is
currently approved for marketing by LEO Pharma in certain countries in Europe.
LEO Pharma intends to submit shortly an Investigational New Drug Application
(IND) for Dovobet(R) to the Food and Drug Administration (FDA) in the US.  Both
Dovonex(R) and Dovobet(R) are indicated for the treatment of mild to moderate
psoriasis in Europe.

Under the terms of the agreements for Dovobet(R), Galen will pay LEO Pharma a
total of $47 million if Dovobet(R) progresses to full FDA approval.  Of the $47 
million, $40 million is payable upon approval.  Once approved, the License and 
Supply Agreement between Galen and LEO Pharma for Dovobet(R) which has been 
executed will become effective.

Commenting on the transaction, Roger Boissonneault, CEO of Galen, said: 'This is
an excellent opportunity for Galen to enhance our pipeline in dermatology.  The
Co-promotion Agreement will allow us to participate in the Dovonex(R) franchise
in the United States while the option agreement allows us to acquire the product
in the future.  We are also delighted to have the opportunity to develop and
in-license Dovobet(R), a product developed by Europe's leading research-based
dermatology company, LEO Pharma.  We are pleased that the long relationships
that we have had with Bristol-Myers Squibb and LEO Pharma has facilitated us in
bringing these arrangements to fruition.'

Ernst Lunding, CEO of LEO Pharma, added: 'We look forward to developing this new
partnership with Galen for our calcipotriene franchise in the United States.
Galen has demonstrated that they are an effective sales and marketing force in
the United States as evidenced by their success with other products, and we look
forward to seeing them do the same with Dovonex(R).'

                                  #    #    #


Galen Holdings PLC
David G. Kelly                                              Tel: + 44 283 833 4974 (after 8.30am)

Senior Vice President Finance & Planning

Financial Dynamics
Sophie Pender-Cudlip/Francetta Carr                         Tel: + 44 20 7831 3113

For further information on Galen, please visit

Forward looking statements in this report, including, without limitation,
statements relating to the Galen's plans, strategies, objectives, expectations,
intentions and adequacy of resources, are made pursuant to the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of 1995. These
forward looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements of
Galen to be materially different from any future results, performance or
achievements expressed or implied by such forward looking statements. These
factors include, among others, the following: Galen's ability to manage its
growth, government regulation affecting the development, manufacture, marketing
and sale of pharmaceutical products, customer acceptance of new products,
competitive factors in the industries in which Galen operates, the loss of key
senior management or scientific staff, exchange rate fluctuations, general
economic and business conditions, and other factors described in filings of the
Galen with the SEC. Galen undertakes no obligation to publicly update or revise
any forward looking statement, whether as a result of new information, future
events or otherwise.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                 

a d v e r t i s e m e n t