Please login to the form below

Not currently logged in
Email:
Password:

Coreg CR study knocks a quarter off Flamelís shares

Shares in French drug delivery company Flamel Technologies fell by a quarter at the end of last week after a study of its daily controlled-release heart disease drug, Coreg CR, failed demonstrate augmented efficacy when compared with an existing twice-daily treatment, Coreg IR.

Shares in French drug delivery company Flamel Technologies fell by a quarter at the end of last week after a study of its daily controlled-release heart disease drug, Coreg CR, failed demonstrate augmented efficacy when compared with an existing twice-daily treatment, Coreg IR.

The results of the study were published in the Journal of Cardiac Failure.

As a result, Flamelís shares dropped a massive 24.6 per cent (USD 3.12) to settle at USD 9.56. The stock reached a 52-week low of USD 8.96 during the regular trading session.

Coreg IR is sold by GlaxoSmithKline (GSK) in the US, but it is currently experiencing generic competition from Israeli-headquartered Teva and US-based Mylan. Coreg CR was approved by the FDA in October 2006.

Merriman Curhan Ford analysts believe that formulary adoption of Coreg CR will be hindered in the near-term, limiting potential growth of prescriptions. They reaffirmed a "Neutral" rating to Flamel.

Flamel Technologies manufactures Coreg microparticles for GSK under a license agreement. Flamel's drug delivery technology is designed to control absorption of Coreg in the body.

28th August 2007

Share

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
An agency called Owen

We’re a Healthcare Communications Agency specialising in Multi-channel Marketing to make you Digitally Fitter, Stronger & Faster....

Latest intelligence

The search for treatments for Parkinson’s disease
The research requires resilience but pharma is urged to ‘keep innovating, keep trying’...
Margot Hannah, OPEN Health - A personal perspective of LGBT+ and diversity.
Ditch the Label – it’s just me....
The impact of COVID-19 on clinical trials
As all industry sectors work to assess both the impact and the optimal path forward, the effects are expected to be diverse and long-lasting...

Infographics