Monday, October 17, 1994
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.