SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2002.
Serono S.A.
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(Registrant's Name)
15 bis, Chemin des Mines
Case Postale 54
CH-1211 Geneva 20
Switzerland
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(Address of Principal Executive Offices)
1-15096
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(Commission File No.)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
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(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-______)
IVAX [GRAPHIC OMITTED] SERONO
IVAX Corporation
4400 Biscayne Boulevard
Miami, FL 33137
Telephone: 305-575-6000
FOR IMMEDIATE RELEASE
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SERONO AND IVAX TO DEVELOP ORAL THERAPY
FOR MULTIPLE SCLEROSIS
GENEVA, SWITZERLAND AND MIAMI, USA - OCTOBER 30, 2002
Serono S.A. (virt-x: SEO and NYSE: SRA) and IVAX Corporation (AMEX: IVX and LSE:
IVX.L) today announced a worldwide agreement to develop and commercialize IVAX'
product, cladribine, as potentially the first orally effective treatment of
multiple sclerosis.
Ernesto Bertarelli, Chief Executive Officer of Serono, commented: "This
agreement is part of our long-term strategy for developing novel therapies in
neurology. With cladribine we plan to offer patients an oral therapy which
complements Rebif, our leading treatment for multiple sclerosis."
"We are very pleased to enter into this agreement with Serono, a leading
innovator in the development of drugs to treat multiple sclerosis," remarked
Phillip Frost, M.D, Chairman and Chief Executive Officer of IVAX Corporation.
"This agreement brings together our combined expertise in the development of CNS
therapeutics, IVAX' capabilities for manufacturing proprietary oral
pharmaceutical products and Serono's global experience in the marketing and
sales of Rebif, an important treatment for multiple sclerosis."
Based upon clinical and Magnetic Resonance Imaging (MRI) data from phase II
trials suggesting that intravenous cladribine may be effective in certain MS
patients, Serono and IVAX plan to establish the optimal oral formulation of
cladribine and then initiate further clinical trials.
Under terms of the agreement, IVAX will receive a series of undisclosed
milestone payments and will also receive royalties on sales of the product, once
marketed. The current worldwide market for multiple sclerosis treatments is
more than $2.5 billion.
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ABOUT CLADRIBINE
Cladribine is a purine-analogue that disrupts the proliferation of certain white
blood cells, including monocytes and lymphocytes, which are involved in the
pathological process of multiple sclerosis.
ABOUT SERONO
Serono is a global biotechnology leader. The Company has six recombinant
products on the market, Gonal-F(R), Luveris(R), Ovidrel(R)/Ovitrelle(R),
Rebif(R), Serostim(R) and Saizen(R) [somatropin]. (Luveris(R) is not approved
in the USA). In addition to being the world leader in reproductive health,
Serono has strong market positions in neurology, metabolism and growth. The
Company's research programs are focused on growing these businesses and on
establishing new therapeutic areas. Currently, there are seventeen new
molecules in development.
In 2001, Serono achieved worldwide revenues of U.S. $1.38 billion, and a net
income of U.S. $317 million, making it the third largest biotech company in the
world based on revenues. The Company operates in 45 countries, and its products
are sold in over 100 countries. Bearer shares of Serono S.A., the holding
company, are traded on the virt-x (SEO) and its American Depository Shares are
traded on the New York Stock Exchange (SRA).
ABOUT IVAX
IVAX Corporation, with operations in nearly 30 countries and its products sold
in 70 countries, had sales in 2001 of $1.2 billion. IVAX discovers, develops,
manufactures, and markets branded and brand equivalent (generic) pharmaceuticals
and veterinary products in the U.S. and internationally. The company has a
number of proprietary drugs in various phases of clinical trials to treat
respiratory, oncologic, urologic and central nervous system diseases. Among the
new molecules being developed, immunotoxins to treat cancer, soft steroids to
treat a variety of inflammatory diseases, and a brain targeted estrogen for
postmenopausal hormone replacement therapy represent particularly novel
advances.
Copies of this and other news releases may be obtained free of charge from IVAX'
web site at www.ivax.com. Shareholders and prospective investors can register
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to automatically receive the company's press releases via email at
www.ivax.com/ComNewsv2.htm.
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For Serono:
Some of the statements in this press release are forward looking. Such
statements are inherently subject to known and unknown risks, uncertainties
and other factors that may cause actual results, performance or
achievements of Serono S.A. and affiliates to be materially different from
those expected or anticipated in the forward-looking statements.
Forward-looking statements are based on Serono's current expectations and
assumptions, which may be affected by a number of factors, including those
discussed in this press release and more fully described in Serono's Annual
Report on Form 20-F filed with the U.S. Securities and Exchange Commission
on May 21 2002. These factors include any failure or delay in Serono's
ability to develop new products, any failure to receive anticipated
regulatory approvals, any problems in commercializing current products as a
result of competition or other factors, our ability to obtain reimbursement
coverage for our products, and government regulations limiting our ability
to sell our products. Serono has no responsibility to update the
forward-looking statements contained in this press release to reflect
events or circumstances occurring after the date of this press release.
For IVAX:
This press release contains certain forward-looking statements regarding
product development efforts and product performance and other
non-historical facts which are being are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. These
statements involve risks and uncertainties that cannot be predicted or
quantified and, consequentially, actual results may differ materially from
those expressed or implied by such forward-looking statements. Such risks
and uncertainties include, among others, that development efforts for
Cladribine may fail, may not achieve the expected results or effectiveness
and/or may not generate data that would support the approval or marketing
of this product for the indications being studied or for other indications;
that clinical milestones may not be achieved on a timely basis or at all
and accordingly IVAX may not receive any of the anticipated milestone or
royalty payments under the license agreement; and that others may develop
product formulations that are superior to IVAX' formulation. In addition to
the risk factors set forth above, IVAX' forward looking statements may also
be adversely affected by general market factors, competitive product
development, product availability, federal and state regulations and
legislation, the regulatory process for new products and indications,
manufacturing issues that may arise, trade buying patterns, patent
positions and litigation, among other things. For further details and
discussion of these and other risks and uncertainties, see IVAX' Annual
Report on Form 10-K and other filings with the Securities and Exchange
Commission.
FOR MORE INFORMATION, PLEASE CONTACT:
SERONO IN GENEVA, SERONO, INC. ROCKLAND, MA
SWITZERLAND
USA
MEDIA RELATIONS: INVESTOR RELATIONS: MEDIA RELATIONS:
Tel: +41-22-739 36 00 Tel: +41-22-739 36 01 Tel: +1 781 681 2122
Fax: +41-22-739 30 85 Fax: +41-22-739 30 22 Fax: +1 781 681 2935
www.serono.com Reuters: SEOZ.VX/SRA.N www.seronousa.com
-------------- Bloomberg SEO VX/SRA US -----------------
IVAX CORPORATION
Howard A. Goldman
Director/Investor Relations & Corporate Communications
Phone: 305.575.6043
www.ivax.com
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-end-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SERONO S.A.
a Swiss corporation
(Registrant)
October 30, 2002 By: /s/ Jacques Theurillat
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Name: Jacques Theurillat
Title: Deputy Chief Executive Officer