Please login to the form below

Not currently logged in
Email:
Password:

Bentley to spin off drug delivery unit

Bentley Pharmaceuticals will split its drug delivery division into a separate company so it can focus on developing generic drugs in the EU

US-based Bentley Pharmaceuticals has revealed it will split its drug delivery division into a separate company so it can focus on developing generic drugs.

Bentley will spin off its delivery business into a company called CPEX Pharmaceuticals. Bentley will issue a dividend consisting of CPEX stock to Bentley shareholders, making them the owners of the new company.

Bentley's drug delivery business has developed both a gel and inhaleable spray, and then gets a licensing fee for those methods.

Bentley reported USD 109m in revenue in FY06, of which USD 8.4m was derived from CPEX. If CPEX were an independent company last year, it would have lost USD 4.2m.

After spinning off CPEX, Bentley will focus on making generic drugs in Europe. The company makes generic versions of drugs like Merck & Co's cholesterol lowering drug Zocor (simvastatin) and GlaxoSmithKline's (GSK) antidepressant, Paxil (paroxetine).

Bentley's board is in the process of approving this deal, as are US regulators. If approved, the new company's stock will trade on the NASDAQ under the ticker "CPEX."

2nd January 2008

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Havas Life Medicom

We’re a specialist-led, unified communications agency delivering connected healthcare communications, informed through fresh insights, smart thinking and inspired ideas. Our...

Latest intelligence

Is the pharma business model ready for precision medicine?
Precision medicine promises to revolutionise patient outcomes and reduce costs for industry but is pharma ready for it? Blue Latitude Health co-founder Head of Strategy Fred Bassett explores the challenges...
ABPI2018
The NHS and ABPI at 70: inching closer to the triple win
The NHS and UK pharma’s ABPI both turn 70 this year. After years of transactional relationships, there’s a will to work more closely - but friction on prices and value...
What pharma marketers can learn from behavioural science
Pharma behavioural science and traditional emotional marketing create a powerful mix of techniques that have impact on real lives....

Infographics