EpiPen Alternative Gains Sales Clout -- WSJ
03 Luglio 2018 - 09:02AM
Dow Jones News
By Peter Loftus
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (July 3, 2018).
Swiss drug giant Novartis AG has bought the U.S. commercial
rights to sell a potentially lower-cost alternative to Mylan NV's
EpiPen, the emergency treatment for allergic reactions that has
been dogged by pricing and supply challenges.
Novartis's Sandoz generic-drug unit acquired the U.S. commercial
rights for an emergency shot called Symjepi from Adamis
Pharmaceuticals Corp., the companies said late Sunday. The deal
means Mylan will face competition from an industry heavyweight,
though Symjepi isn't an exact copy of EpiPen so some patients may
stick with the more familiar brand.
Symjepi contains the same active ingredient, epinephrine, as
EpiPen, which is used to treat anaphylaxis caused by insect bites
and foods, among other allergic reactions. Symjepi comes in a
prefilled syringe, which Adamis says could make it cheaper than
EpiPen, which comes in an auto-injector device that conceals the
needle.
U.S. regulators approved Symjepi in June 2017 but Adamis, a San
Diego startup, never launched the product and instead hired an
investment banker to find a commercial partner for it. Sandoz, one
of the biggest generic-drug makers, plans to begin selling it in
the U.S.
Mylan came under criticism in 2016 for boosting the list price
for an EpiPen two-pack to more than $600, up 550% since acquiring
the product in 2007. The company has since started selling a
generic version for about $300.
Mylan also has experienced supply shortages for EpiPen this year
because of problems at a Pfizer Inc. manufacturing plant that makes
the product.
Under the exclusive agreement for Symjepi, Sandoz will pay an
upfront fee and make potential performance-based milestone payments
for the rights, the companies said in press releases Sunday night.
Net profits generated from U.S. sales of Symjepi will be shared
equally by Adamis and Sandoz. The companies didn't divulge the
exact terms.
Sandoz didn't say when it planned to begin distributing Symjepi
in the U.S., or how much it would cost. Carol Lynch, president of
Sandoz, called the product "an affordable alternative treatment for
patients who are at increased risk for anaphylaxis."
Adamis hopes Symjepi will be a "cheaper alternative" to Mylan's
generic version of EpiPen, Adamis spokesman Mark Flather said.
Adamis said it would retain the rights to commercialize Symjepi
outside the U.S. but has granted Sandoz the first right of
negotiation for such markets. Also, Adamis may continue to develop
its Symject injection platform for additional product candidates,
including a previously announced naloxone product candidate that is
being developed to treat opioid overdoses, the company said.
Adamis said the agreement with Sandoz would also cover a
lower-dose version of Symjepi if it receives regulatory
approval.
"We believe the financial terms of this agreement have the
potential to bring meaningful recurring revenue to Adamis and we
look forward to growing, and possibly expanding, this partnership
with Sandoz based on the future success of Symjepi in the market,"
said Dennis J. Carlo, Adamis's chief executive, in the
statement.
In February, he acknowledged the search for a commercial partner
for a U.S. rollout of Symjepi was taking longer than the company
had expected. "I know many investors have become frustrated with
the time that this process has taken," Dr. Carlo said in a
statement to MarketWatch.
Adamis shares jumped 50% to $4.80 on Monday.
Write to Peter Loftus at peter.loftus@wsj.com
(END) Dow Jones Newswires
July 03, 2018 02:47 ET (06:47 GMT)
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