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 Samaritan
Pharmaceuticals Inc. said Monday it signed a marketing agreement
with Shire plc to sell Shire's Elaprase to treat Hunter's
disease in Greece and Cyprus.
Samaritan
will sell the drug on a "named patient" basis until
Greece and Cyprus establish pricing and reimbursement for
the drug. The drug is expected to launch in the two countries
during the second quarter.
Hunter's
disease is a hereditary disorder characterized by dwarfism,
mental retardation and deafness. It first appears early in
life in children and primarily affects males. Most patients
die before age 20, Samaritan said.
Shares
of Samaritan added 2 cents, or 8.3 percent, to 26 cents on
the American Stock Exchange in morning trading. The stock
has ranged from 17 cents to 90.5 cents over the past year.
American
depository shares of U.K.-based Shire rose 79 cents to $67.40
on the Nasdaq Stock Market in morning trading. Earlier, shares
traded as high as $67.73, eclipsing a previous 52-week high
of $67.24.
Samaritan Pharmaceuticals:
``We LIV....to Save Lives.''
Samaritan is a
small-cap Biotech, driven to discover, develop and commercialize
innovative therapeutics for AIDS, Alzheimer's, Cancer and
Heart disease patients. Look at http://www.samaritanpharma.com.
Please register on Website so we can notify you of upcoming
conference calls, news and events.
The company disclaims
any information that is created by an outside party and endorses
only information that is communicated by its press releases,
filings and Website. This news release contains forward-looking
statements that reflect management's current beliefs about
the potential for its drug candidates, science and technology.
However, as with any biopharmaceutical under development,
there are significant risks and uncertainties in the process
of development and regulatory review. There are no guarantees
that products will prove to be commercially successful. For
additional information about the factors that affect the company's
business, please read the company's latest Form 10-K/A filed
November 2, 2006. The company undertakes no duty to update
forward-looking statements.
Contact:
The Investor Relations Group
Investor Relations:
Adam Holdsworth
Erica Ruderman
Rachel Colgate
212-825-3210
Samaritan
Pharmaceuticals, Inc.
Kristi Eads
702-735-7001
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