Sicor Inc has restructured and extended its alliance with Baxter Healthcare Corporation for the marketing and distribution of nine critical care and anesthesia products, including propofol. Under the terms of the restructuring, Baxter will continue to market these products through 2008 and each party will have a first right of refusal to participate in the development of any new formulation of propofol by the other. The agreement also provides that Baxter will relinquish its exclusive distribution rights to Sicor's pancuronium, metoclopramide and vecuronium pharmaceutical products as a result of its acquisition of Wyeth's ESI Lederle division. In addition, Sicor will be granted the rights to distribute and market milrinone, a drug used for the short-term treatment of patients with acute heart failure, under Baxter's FDA approved Abbreviated New Drug Application.

"We view the restructuring and extension of this alliance as the best of both worlds -- working with Baxter to optimize our propofol opportunity and, at the same time, increasing the number of products to be marketed by our dedicated sales force," said Marvin Samson, president and chief executive officer. "Our relationship has delivered steady growth over the past several years and enabled Sicor to improve our earnings, to generate positive cash flows and to expand our interests into new and exciting areas. In addition, with Baxter's marketing and financial strength, combined with its ability to provide a comprehensive product portfolio to hospitals, we are pleased to expand both the time horizon and scope of our existing relationship. I am confident that this collaboration will continue to deliver many more successful years to come."