Endo ends axomadol collaboration with Grunenthal
CHADDS FORD, Pa. — Endo Pharmaceuticals has ended its research program and collaboration with Grunenthal.
The announcement comes shortly after the companies revealed their mid-stage clinical trial results for axomadol — designed to treat chronic low back pain — did not meet the predetermined endpoint.
Endo licensed exclusive rights to develop and market axomadol in the United States and Canada from Grunenthal in February 2009.
"As a leader in the field of pain management, Endo remains committed to the development and commercialization of pain therapeutics," Endo Pharmaceuticals EVP research and development Ivan Gergel said. "We have appreciated the opportunity to collaborate with Grunenthal on this program and they have been an excellent partner."
Sun Pharma receives FDA OK for finasteride
MUMBAI, India — Generic drug maker Sun Pharmaceutical Industries has received regulatory approval for a drug designed to treat an enlarged prostate.
According to the Food and Drug Administration’s website, Sun Pharma’s finasteride tablets in the 5-mg strength were approved on Aug. 16.
Finasteride is the generic equivalent of Proscar and Propecia, which are made by Merck.
Board member at Valeant steps down
MISSISSAUGA, Ontario — Valeant Pharmaceuticals on Thursday announced the resignation of Michael Van Every from its board of directors.
The company said Van Every, who has served on the board since 2004, resigned due to health reasons.
"We want to thank Michael for his many years of service to the company, first at Biovail and then, following the merger of Biovail and Valeant, as part of the new Valeant board," Valeant chairman and CEO J. Michael Pearson said. "Michael’s accounting expertise was a tremendous asset to company and brought a much needed stability to the financial organization during his tenure as head of the finance and audit committee. Michael’s counsel will be missed and we wish him well in his recovery."