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News Release

FOR IMMEDIATE RELEASE
July 5, 2000

EISAI LICENSES NOVEL SYNTHETIC ONCOLOGY COMPOUND TO ABBOTT LABORATORIES

Tokyo (July 5, 2000) - Eisai Co., Ltd. of Tokyo (President and CEO: Haruo Naito) announced the signing of a licensing agreement with Abbott Laboratories (Abbott Park, Illinois, U.S.A.) to develop and market a novel synthetic oncology compound (Eisai Research Code Number: E7010) independently discovered by Eisai for various cancer treatment applications.


Under this agreement Abbott will have rights for the development and marketing of this compound worldwide. In Japan and Asia, Eisai will maintain exclusive development and marketing rights. The agreement will include milestone payments and royalties related to the development and sales of the compound.


E7010, a tubulin antagonist which inhibits cell mitosis, indicates promising efficacy for the expected treatment of solid tumors according to preliminary data. Eisai has several compounds in pre-clinical and clinical development in the oncology area. Eisai decided to select Abbott Laboratories as a licensing partner for E7010 considering our product portfolio strategy.


Abbott Laboratories is committed to the research and development of novel treatments in oncology. Abbott Laboratories is a global diversified health care company devoted to the discovery, development, manufacture, and marketing of pharmaceutical, diagnostic, nutritional and hospital products.