FDA accepts application for new combo drug for allergic rhinitis
KENNILWORTH, N.J. The Food and Drug Administration has accepted the application for review by Schering-Plough/Merck Pharmaceuticals for its new drug.
The medicine is a combination of loratadine and montelukast sodium, the ingredients found in Claritin and Singulair, respectively. The company is looking to market the drug as a treatment for allergic rhinitis symptoms in patients who want nasal congestion relief.
The drug would be helpful to the more than 50 million people who suffer from allergic rhinitis either seasonally or perennially.
Scientists show correlation between statins and Alzheimer’s treatments
HASBRUCK HEIGHTS, N.J. Scientists have found proof showing an association between statin use and neuropathologic changes in the brain linked to Alzheimer’s disease.
The study was recently published in a brain disease report conducted by researchers at the University of Washington, the Veterans Affairs Puget Sound Health Care System and the Group Health Cooperative of Puget Sound.
Nymox Pharmaceuticals holds the worldwide patent for the use of statin drugs for the prevention and treatment of Alzheimer’s. The global market for statins exceeds over $25 billion. Alzheimer’s currently affects more than 4.5 million people in the United States, according to government estimates.
PDL to sell rights to drugs, cut related jobs
FREMONT, Calif. PDL BioPharma will sell the rights to four of its drugs and cut at least 250 jobs as the company moves it focus away from cardiovascular drugs to oncology and select immunological diseases.
The four drugs to be sold are Cardene, Ularitide, Retavase and IV Busulfex. The drugs produced $187.2 in revenue in the year ending June 30. The 250 jobs would be eliminated as a result of selling the drugs, but more job cuts could be expected as the company shifts its focus to diseases like multiple sclerosis.
The company has been under fire recently by its shareholders for keeping Mark McDade as chief executive officer even though he moved the company to a more expensive location and for being in charge while the company missed earnings and sales projections.