News Room

Novartis to Divest Synacthen®

October 1, 2002

Philadelphia, Pennsylvania - Novartis Pharma AG (Basel, Switzerland) has appointed Plexus Ventures to assist the company to divest Synacthen® (tetracosactrin), a synthetic analogue of ACTH (corticotrophin), with both diagnostic and therapeutic indications.

Synacthen is used as a diagnostic test to determine whether the adrenal glands are functioning properly. In its depot formulation, Synacthen is used to treat a number of conditions (including some Rheumatoid diseases, Ulcerative colitis, Chronic skin conditions responsive to corticosteroids, Nephrotic syndrome, Acute exacerbations in patients suffering from Multiple Sclerosis or Retrobulbar Neuritis) which are characterized by the need to increase the production of natural steroid hormones.

Synacthen has global sales of approximately CHF 12 million (US$ 7.2 million) and is currently marketed by Novartis affiliates in Europe, Africa, Middle East and Latin America.

Plexus Ventures will work with Novartis to identify potential buyers interested in harnessing the future potential of this well-established brand.

About Plexus Ventures

Plexus Ventures, founded in 1990, provides strategic advice, business development and alliance management services to clients in the pharmaceutical, biotechnology and drug delivery industries worldwide. Plexus Ventures assists its clients in the areas of in-licensing, out-licensing, acquisitions, divestitures and strategic partnerships. With offices in London, Los Angeles, Milan, Philadelphia, Tokyo and Warsaw, Plexus Ventures possesses the capabilities to effectively serve clients in the United States, Europe and Asia. Plexus Ventures is both well-known and well respected by leading research-based pharmaceutical companies worldwide. For further information, please consult: