Shire takes ADHD patch off market
NEW YORK British drug developer Shire PLC is temporarily withdrawing from the market its product that treats attention deficit hyperactivity disorder, Forbes.com reported yesterday.
Shire decided to extract the Daytrana product line from the market after patients and caregivers complained that the patch’s release liner is difficult to detach, a problem for those who are trying to administer the drug. To mitigate the state of affairs, Shire stated they would provide easier-to-use patches to those affected by the market withdrawal.
Meanwhile, American depository shares of Shire fell 42 cents to $78.32 in pre-market trading yesterday. In a separate statement, Noven Pharmaceuticals, creator of Daytrana and other medications, estimated the damages at $4 million to $6 million.
Hutchinson to join Renovo; Vernalis suffers his loss
BERKSHIRE, England Renovo has created a new position entitled chief medical officer and executive board director for John Hutchinson, the former developmental developed for Vernalis.
Renovo has just recently signed a deal with Shire to co-develop a new anti-scarring drug, Juvista. The deal could be worth as much as $825 million with sales estimated to generate as much as $4 billion per year.
Hutchinson leaves Vernalis at a difficult time, as the company is dealing with a decision from U.S. regulators to delay a decision on its menstrual migraine drug Frova for the second time.
Renovo said that they have offered Hutchinson equity stake in the company.
Gene Logic to search for secondary paths for Merck pipeline
GAITHERSBURG, Md. Gene Logic has entered into a drug repositioning and development agreement with Merck Serono, to seek other development paths for several of Merck Sereno’s drug candidates.
The drug candidates, which were discontinued or de-prioritized in clinical trials for reasons other than safety would give payments to Gene Logic based on success milestone and royalties, although these would be discounted to account for Merck Serono’s contribution.
If Gene Logic identifies a new potential therapeutic use that Merck Serono chooses not to develop, they can receive an exclusive license for the drug and would then pay Merck Serono royalty and success-based milestone payments.