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LEXINGTON, Mass. (AP) - The new interim CEO of NitroMed Inc., maker of a heart-failure drug approved only for black patients, said Wednesday it was premature to consider a buyout of the company, which became the subject of takeover rumors after two top executives suddenly resigned.
Jerry Karabelas told analysts on a conference call Wednesday that he would consider a merger only after he and the company's new chief financial officer, Kenneth Bate, come up with ways to increase disappointing initial sales of the drug BiDil.
Among the steps NitroMed is exploring is a possible agreement to co-promote BiDil with another drug company, said Karabelas, who is also NitroMed's chairman. He declined to identify a possible partner, or discuss the timing of such an agreement.
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