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Schering and Orasure in pact to develop oral hepatitis C test
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January 4, 2007, 12:16 PM EST
KENILWORTH, N.J. (Dow Jones/AP) _ Schering-Plough Corp. and OraSure Technologies Inc. said Thursday they have entered a two-year deal to jointly develop and market a rapid oral test for the detection of hepatitis C virus antibodies.
Schering-Plough, a Kenilworth-based health care company, will reimburse OraSure for a portion of the costs the company incurs developing a test for what is the most common blood-borne infection in the United States, according to the U.S. Centers for Disease Control.
OraSure, a Bethlehem, Pa.-based maker of medical devices and diagnostic products that use its oral fluid technologies, already markets a rapid, oral HIV test.
Under the terms of the deal, OraSure will sell the product and retain the rights to market and sell the test throughout the United States, the companies said.
Tests sold to U.S. physicians' offices will carry both companies' brands, the companies said.
Shares of Schering-Plough rose 10 cents, or 0.4 percent, to $23.63 in late-morning trading Thursday on the New York Stock Exchange.
OraSure shares climbed 56 cents, or 6.9 percent, to $8.71 on the Nasdaq.
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