Business

According to Verona Pharma, the company spent nearly £1 million in 2010 on development of its lead product, RPL554, an inhaled PDE3/4 inhibitor for the treatment of asthma, COPD, and allergic rhinitis. Those R&D costs… Read more . . .

The US Supreme Court ruled unanimously that Matrixx Initiatives was wrong when it claimed that it did not have to disclose reports of adverse effects caused by its Zicam nasal spray because the number of… Read more . . .

According to reports, Novartis will close its manufacturing facility at Horsham, UK, cutting 550 jobs, but will maintain its respiratory research program at the site. The company employs approximately 330 researchers in the respiratory program.… Read more . . .

Almirall has launched Sativex oro-mucosal spray for the treatment of spasticity in multiple sclerosis patients in Spain. Sativex is an endocannabinoid modulator that contains THC and cannabidiol developed and manufactured by GW Pharmaceuticals. According to… Read more . . .

According to New York specialty pharmaceutical company Hi-Tech Pharmacal, sales of its generic fluticasone propionate nasal spray increased 562% during the quarter ending January 31, 2011. Total sales for the product reached $17.9 million for… Read more . . .

AstraZeneca has announced that it will stop manufacturing the Pulmicort 100 and 200 µg/dose budesonide HFA pMDI. According to the company, the device has caused “complex manufacturing issues” and the resulting difficulty is causing it… Read more . . .

Biopharmaceutical company Insmed Incorporated has announced that its shareholders have approved a one-for-ten reverse stock split and the conversion of its Series B preferred stock into common stock. Insmed acquired Transave and its Arikace inhaled… Read more . . .

Mangrove Partners, which holds approximately %5.7 of the outstanding shares of CPEX Pharmaceuticals, has announced that it will oppose the merger of CPEX with FCB, a wholly-owned subsidiary of Footstar Corporation. The merger was announced… Read more . . .

Since October 1, 2010, Vectura’s financial performance has exceeded the board’s expectations, according to the company’s interim management statement. Chief Executive Chris Blackwell attributes the improved performance to a restructured R&D program and says that… Read more . . .