Firm to Hike Research

Allergan Specialty Therapeutics Inc. said Monday that it plans to accelerate spending in its research and development plan this year, which could result in the use of nearly all funds available by mid-2001.

The Irvine research firm said in a press release that the potential boost in spending is the result of more projects as well as more rapid research and development of compounds than expected.

Allergan Specialty is a spinoff of eye-care pharmaceutical maker Allergan Inc.

In a separate release Monday, Allergan said it has reached agreement with privately held Oculex Pharmaceuticals Inc. to develop treatments for diseases that affect the back of the eye, an area that is relatively inaccessible for sustained treatment.

Under the research agreement, the Sunnyvale company will formulate intraocular, or inside-the-eye, drug delivery systems containing therapeutic Allergan compounds.

Financial terms were not disclosed.