ICOS impotence drug successful
Published 9:00 pm Friday, June 1, 2001
An anti-impotence drug being developed in a joint venture by Bothell’s ICOS Corp. and Eli Lilly and Co. of Indiana improved erections in 85 percent of men in a new clinical trial, the companies said Friday. The findings could buoy prospects for Cialis, for which Lilly and ICOS hope to obtain federal approval to market by next year. Dr. Gerald Brock of the urology department at St. Joseph’s Health Centre in Ontario, Canada, said 85 percent of 196 men who took part in a clinical trial experienced better erections. A second trial of 223 men found that men who received Cialis achieved full or partial erections on average 17 minutes after taking the drug, Brock said. They also reported that the drug’s desirable effects lingered for about 24 hours. “We want a pill that works, works quickly and lasts as long as possible,” said Brock. “If your wife surprises you and becomes romantic,” then Cialis might provide a fast-acting response, he said. The results also suggest that Cialis may have some distinct advantages over Viagra by acting faster and lasting longer.
Washington Mutual Inc. completed the acquisition of mortgage lender Fleet Mortgage Corp., formerly a unit of FleetBoston Financial Corp., the companies announced Friday. Washington Mutual of Seattle said it becomes the leading mortgage lender following the acquisition, based on pro forma loan volume. Washington Mutual said it will pay $60 million more than the fair market value for Fleet Mortgage, headquartered in Columbia, S.C. Company spokesman Kevin Horn said the fair market value had not yet been determined. When it announced the acquisition in April, Washington Mutual said it would pay a total of $660 million in cash, subject to certain closing adjustments.
Airborne Inc., the Seattle holding company for shipping service provider Airborne Express, said Friday it will lay off 640 employees, or about 2.5 percent of its work force, because of slumping business. The first layoffs in the company’s 55-year history will be across the board and are expected to trim $26 million to $28 million in costs annually, the company said in a statement.
For the first time in eight months, the nation’s unemployment rate improved slightly, dipping to 4.4 percent last month. But factory workers suffered a 10th consecutive cut in jobs, and analysts said the weak economy will send unemployment upward again. May’s unemployment rate was down 0.1 percentage point from April’s 2 1/2-year high of 4.5 percent, the Labor Department said Friday. The decline surprised analysts but didn’t boost optimism that the worst economic days are over.
From Herald news services
