FDA approves Shire’s Vyvanse for treating adult ADHD
WAYNE, Pa. The Food and Drug Administration has approved Shire’s attention deficit hyperactivity disorder drug Vyvanse for the treatment of adults, according to published reports.
Around one-third of current Vyvanse prescriptions are written for off-label use in adults already, although Shire hasn’t been able to promote the drug to these patients until now.
Switching patients from Adderall XR to Vyvanse is very important for the company because Adderall XR is set to lose patent protection in April 2009.
“We are confident that this approval for adult patients will help continue to increase prescription share and volume of Vyvanse,” chief executive officer Matthew Emmens said.
The drug had sales of almost $66 million during Shire’s Q4 2007.
Schering-Plough posts quarterly loss from purchase of Organon
KENILWORTH, N.J. Schering-Plough today released its first-quarter results for 2008, according to published reports. The drugmaker reported a net income of $253 million, down from $543 million during the first quarter of 2007, mostly due to the acquisition of the biotech company Organon BioSciences.
Sales though rose by 56 percent to $4.66 billion. Its rheumatoid arthritis drug Remicade’s sales rose by 36 percent to $507 million.
Vytorin and another cholesterol treatment drug Zetia, which Schering markets through a joint venture with Merck saw sales of both drugs combined rise 6 percent to $1.2 billion during the quarter. But they fell 5 percent in the United States amid the widely publicized failure of Vytorin to cut plaque in neck arteries in a study for which results were presented in January.
Merck said Monday it expects its revenue from the drugs to drop by $700 million over the rest of 2008.
Chief executive officer Fred Hassan said the company is on track with its plan to cut annual costs by $1.5 billion by 2012, announced earlier this month. About 10 percent of its 55,000 jobs are to be cut.
Genzyme plans expansion in China
CAMBRIDGE, Mass. Genzyme has announced that it will build a research and development center in Beijing as part of its global expansion, according to published reports.
The company expects the facility to open in 2010 and cost them about $90 million. It will be a 200,000 square-foot facility, which will be able to accommodate 350 employees.
Genzyme said it already has 25 employees working in offices in Beijing and Shanghai and has a pilot program for its cell therapy MACI at Beijing Wujing Hospital.