GAITHERSBURG, Md., Jan. 10 /PRNewswire/ -- MedImmune, Inc. (Nasdaq: MEDI)
announced today that it has accepted for exchange all Aviron (Nasdaq: AVIR)
shares which were validly tendered in its offer to exchange 1.075 MedImmune
shares for each Aviron share.
The exchange offer expired at 12:00 midnight, New York City time on
January 9, 2002. Approximately 29,622,602 Aviron shares were tendered
(including 4,248,928 shares tendered pursuant to notice of guaranteed
delivery), which constitutes approximately 93.8 percent of the total number of
outstanding Aviron shares.
MedImmune intends promptly to merge a subsidiary into Aviron, as a result
of which Aviron will become a wholly owned subsidiary of MedImmune. In the
merger, each remaining Aviron share will be converted into the right to
receive 1.075 MedImmune shares.
The Information Agent for the offer is MacKenzie Partners, Inc., 156 Fifth
Avenue, New York, New York 10010. Call collect at 212-929-5500 or toll-free
at 800-322-2885. The Dealer Manager for the offer is Merrill Lynch & Co.,
Four World Financial Center, New York, New York 10080. Call collect at
Aviron is a biopharmaceutical company headquartered in Mountain View,
California, focused on prevention of disease through innovative vaccine
technologies. The company's product portfolio includes: FluMist(TM), a live
virus vaccine delivered as a nasal mist for the prevention of influenza; a
live parainfluenza virus type 3 vaccine; a vaccine to prevent Epstein-Barr
virus, and a cytomegalovirus vaccine. For more information on Aviron, visit
the company's website at http://www.aviron.com .
MedImmune, Inc. is a fully integrated biotechnology company focused on
developing and marketing products that address medical needs in areas such as
infectious disease, immune regulation and cancer. Headquartered in
Gaithersburg, Maryland, MedImmune has manufacturing facilities in Frederick,
Maryland and Nijmegen, the Netherlands. MedImmune markets five products,
including: Synagis(R) (palivizumab), which is marketed for the prevention of
serious lower respiratory tract disease caused by respiratory syncytial virus
in pediatric patients at high risk of RSV disease, which is prominent in the
Northern Hemisphere from October through May (see full prescribing information
at http://www.medimmune.com ); Ethyol(R), which is marketed for the reduction
of both cumulative renal toxicity associated with repeated administration of
cisplatin in patients with advanced ovarian cancer or non-small cell lung
cancer and moderate to severe xerostomia in patients undergoing post-operative
radiation treatment for head and neck cancer, where the radiation port
includes a substantial portion of the parotid (see full prescribing
information at http://www.medimmune.com ); and CytoGam(R), which is marketed
for the prophylaxis against cytomegalovirus disease associated with
transplantation of kidney, lung, liver, pancreas, and heart (see full
prescribing information at http://www.medimmune.com ). MedImmune also has six
products in various stages of clinical testing for a number of diseases and
several more product candidates in preclinical testing. For more information
on MedImmune, visit the company's website at http://www.medimmune.com .
This announcement may contain, in addition to historical information,
certain forward-looking statements that involve risks and uncertainties. Such
statements reflect management's current views and are based on certain
assumptions. Actual results could differ materially from those currently
anticipated as a result of a number of factors, including risks and
uncertainties discussed in MedImmune's and Aviron's filings with the SEC.
MedImmune and Aviron are developing products for potential future marketing.
There can be no assurance that such development efforts will succeed, that
such products will receive required regulatory clearance or that, even if such
regulatory clearance were received, such products would ultimately achieve
commercial success. There can be no assurance that Aviron will be integrated
successfully or without unanticipated costs.
Aviron stockholders and other investors are urged to read the registration
statement on Form S-4, Schedule TO, final prospectus and other exchange offer
documents which have been filed or will be filed by MedImmune with the
Securities and Exchange Commission and the related solicitation/recommendation
statement filed by Aviron with the SEC. These documents contain important
information, which should be read carefully before any decision is made with
respect to the offer. Documents filed with the SEC are available for free at
the SEC's website at http://www.sec.gov . Documents are also available for
free from MacKenzie Partners, Inc., 800-322-2885.
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SOURCE MedImmune, Inc.
CONTACT: Lori Weiman, Senior Director, Corporate Communications, of
MedImmune, Inc., +1-301-527-4321/