Chiron Will Not Supply BEGRIVAC(TM) Influenza Virus Vaccine to Non-U.S. Markets for the 2005-2006 Influenza Season; Company is W
20 July 2005 - 10:00PM
Business Wire
No Change to Financial Guidance Chiron Corporation (NASDAQ:CHIR)
today announced that further testing has confirmed the company will
not be able to supply any BEGRIVAC(TM) influenza virus vaccine
doses to non-U.S. markets during the 2005-2006 influenza season.
There are no other changes from the company's previous announcement
on July 15, 2005, on the same subject. About Chiron Chiron delivers
innovative and valuable products to protect human health by
advancing pioneering science across the landscape of biotechnology.
The company works to deliver on the limitless promise of science
and make a positive difference in people's lives. For more
information, please visit www.chiron.com. This news release
contains forward-looking statements, including statements regarding
supply of BEGRIVAC(TM) influenza virus vaccine and other influenza
virus vaccines that Chiron expects to deliver to non-U.S. markets,
and assumptions regarding supply of FLUVIRIN(R) influenza virus
vaccine that Chiron expects to deliver to the U.S. market, in
future influenza seasons, sales and earnings expectations and
improvements to manufacturing facilities, that involve risks and
uncertainties and are subject to change. A discussion of the
company's operations and financial condition, including factors
that may affect its business and future prospects that could cause
actual results and developments to differ materially from those
expressed or implied by forward-looking statements, is contained in
documents the company has filed with the SEC, including the Form
10-K for the year ended December 31, 2004, and the Form 10-Q for
the quarter ended March 31, 2005, and will be contained in all
subsequent periodic filings made with the SEC. These documents
identify important factors that could cause the company's actual
performance to differ from current expectations, including, among
others, additional adverse developments resulting from the
suspension of Chiron's UK license to manufacture FLUVIRIN vaccine
from October 5, 2004, through March 2, 2005, the announcement of
such suspension and the litigation and investigations relating to
those matters, the outcome of clinical trials, regulatory review
and approvals, manufacturing capabilities, intellectual property
protections and defenses, litigation, stock-price and interest-rate
volatility, marketing effectiveness, and the severity of the
2005-2006 influenza season. In particular, there can be no
assurance that additional issues with respect to the BEGRIVAC or
FLUVIRIN vaccines or Chiron's manufacturing generally will not
arise in the future, or that Chiron will be able to cover vaccine
shortfalls, or will successfully address matters raised in a
warning letter from the U.S. Food and Drug Administration (FDA)
with respect to its FLUVIRIN vaccine manufacturing facility or
resume sale of FLUVIRIN vaccine for the 2005-2006 influenza season
or BEGRIVAC vaccine for the 2006-2007 influenza season. In
addition, the company may face additional competition in the
influenza market in the future and challenges in distribution
arrangements as a result of the recent BEGRIVAC and FLUVIRIN
vaccine developments. In addition, the company may engage in
business opportunities, the successful completion of which is
subject to certain risks, including approval by Novartis AG,
shareholder and regulatory approvals, and the integration of
operations. Chiron does not undertake an obligation to update the
forward-looking information the company is giving today. NOTE:
BEGRIVAC and FLUVIRIN are trademarks of Chiron Corporation.
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