French pharmaceutical company Sanofi-Synthelabo listed American depositary receipts on the NewYork Stock Exchange. Sanofi-Synthelabo is a marketing partner for Atrix laboratories, a Colorado firm that recently received US Food and Drug Administration approval for its second Eligard product for the treatment of advanced prostate cancer.
The Parisbased company's leading products are Plavix, used to prevent blood clots; Ambien, an insomnia medication; and Avapro, for the treatment of hypertension.
The acquisition of Pharmacia's 51% stake in Illinois-based Lorex Pharmaceuticals' joint venture in April 2002 gave SanofiSynthelabo full marketing rights for Ambien. Over the past three years, the company has significantly expanded its operations in the United States, where it has more than 2,000 sales representatives.
No new shares were issued in conjunction with the ADR listing. Sanofi-Synthelabo's common shares trade on Euronext Paris.
Copyright Global Finance Media Inc. Sep 2002
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