Tuesday, King Pharmaceuticals Inc.(KG) said that it has licensed exclusive rights to market and sell cyanide poisoning antidote Cyanokit in U.S. from Merck Santé S.A.S., an affiliate of Germany-based Merck KGaA.
King Pharma's said that Cyanokit is indicated for the treatment of known or suspected cyanide poisoning, and will be sold and distributed through Meridian Medical Technologies, Inc., a unit of King Pharmaceuticals.
Cyanide poisoning typically occur through smoke inhalation from structure fires, when products containing carbon and nitrogen burn, such as wool, paper, cotton, silk and plastics; exposure to industrial processes that result in products used in building construction, transportation vehicle interiors, and in residential or commercial building interiors and furnishings; and in the event of a terrorist attack.
Brian Markison, president and chief executive officer of King Pharma said, "CYANOKIT is well-suited to King's existing line of acute care products. Our portfolio of antidotes currently serves the emergency medical services community, as well as the U.S. Department of Defense and other federal, state and local agencies. The addition of CYANOKIT to this portfolio is a natural fit, as we are uniquely positioned to market this antidote in both pre-hospital and hospital settings."
King Pharma closed Tuesday's regular trading at $10.41,up $0.08 or 0.77% on a volume of 2.44 million shares on the NYSE.
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