Noteworthy Corange's course correction takes shape

Corange Ltd. appears to be moving swiftly to implement its newly stated strategy of finding near-term market opportunities, with the announcement of a collaboration between its Boehrlnger Mannhelm Pharmaceuticals Corp. unit and Gensia Pharmaceuticals Inc. to develop a Geomatrix version of nifedipine.

For GNSA, the agreement provided an immediate cash infusion of $20 million, plus a strong marketing partner to go up against Pfizer, which leads the market with Procardia XL, Alza Corp.'s formulation of nifedipine.