Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) ended Tuesday session in green amid volatile trading. The shares closed up +0.20 points or 3.36% at $6.16 with 69.99 million shares getting traded. Post opening the session at $5.98, the shares hit an intraday low of $5.93 and an intraday high of $6.16 and the price vacillated in this range throughout the day. The company has a market cap of $418.47 million and the numbers of outstanding shares have been calculated to be 69.99 million shares.
On Sept. 6, 2016 Valeant Pharmaceuticals International, Inc. (VRX) and Progenics Pharmaceuticals, Inc. (PGNX) announced the U.S. commercial launch of RELISTOR® (methylnaltrexone bromide) Tablets, which is now available for prescribing. RELISTOR Tablets (450 mg once daily) were approved by the U.S. Food and Drug Administration (FDA) for the treatment of opioid-induced constipation (OIC) in adults with chronic non-cancer pain on July 19, 2016.
“We are very pleased to launch RELISTOR Tablets in the U.S. and provide an exceptional new treatment option for the millions of patients who suffer from extreme discomfort due to OIC,” said Joseph C. Papa, Chief Executive Officer of Valeant. “This new method of delivery for RELISTOR offers healthcare professionals a novel alternative to address the treatment of OIC – a growing need in pain management – and demonstrates Valeant’s continued commitment to delivering innovative products that improve people’s lives.”
In addition, RELISTOR Tablets will be highlighted during poster presentations at PAINWeek, the largest U.S. pain conference for frontline clinicians, in Las Vegas, Nevada, from September 6-10. The posters will include the following:
Webster LR, Harper JR, Israel RJ. “Oral methylnaltrexone is efficacious and well tolerated for the treatment of opioid-induced constipation in patients with chronic noncancer pain taking concomitant methadone.” PAINWeek Poster, public viewing begins on Thursday, September 8 at 12:30 p.m. PT.
Webster LR, Harper JR, Israel RJ. “Oral methylnaltrexone does not negatively impact analgesia in patients with opioid-induced constipation and chronic noncancer pain.” PAINWeek Poster, public viewing begins on Thursday, September 8 at 12:30 p.m. PT.
Shares of Mylan NV (NASDAQ:MYL) ended Tuesday session in green amid volatile trading. The shares closed up +0.43 points or 1.08% at $40.40 with 534.91 million shares getting traded. Post opening the session at $40.00, the shares hit an intraday low of $39.90 and an intraday high of $40.93 and the price vacillated in this range throughout the day. The company has a market cap of $21.44 Billion and the numbers of outstanding shares have been calculated to be 534.91 million shares.
Mylan NV (MYL) on Aug. 29, 2016 announced that its U.S. subsidiary will launch the first generic to EpiPen® Auto-Injector (epinephrine injection, USP) at a list price of $300 per generic EpiPen® two-pack carton, which represents a discount of more than 50% to the Mylan list price, or wholesale acquisition cost (“WAC”), of the branded medicine. The authorized generic will be identical to the branded product, including device functionality and drug formulation. Mylan expects to launch the product in several weeks, pending completion of labeling revisions. Upon launch, the product will be available as a two-pack carton in both 0.15 mg and 0.30 mg strengths. Mylan also intends to continue to market and distribute branded EpiPen®.
Mylan CEO Heather Bresch commented, “We understand the deep frustration and concerns associated with the cost of EpiPen® to the patient, and have always shared the public’s desire to ensure that this important product be accessible to anyone who needs it. Our decision to launch a generic alternative to EpiPen® is an extraordinary commercial response, which required the cooperation of our partner. However, because of the complexity and opaqueness of branded pharmaceutical supply chain and the increased shifting of costs to patients as a result of high deductible health plans, we determined that bypassing the brand system in this case and offering an additional alternative was the best option. Generic drugs have a long, proven track record of delivering significant savings to both patients and the overall healthcare system. The launch of a generic EpiPen®, which follows the steps we took last week on the brand to immediately reduce patients’ out-of-pocket costs, will offer a long-term solution to further reduce costs and ease the burden and complexity of the process on the patient.”