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 Reckitt Seeks to fill Suboxone hole

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nannamom
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PostSubject: Reckitt Seeks to fill Suboxone hole   Sat 19 Sep 2009, 11:25 pm

I have noticed lately that with the approach of the end of the orphan drug status of Suboxone more and more articles from the past concering the future of Suboxone are coming out of the woodwork.
Take a look at the view back then.
This article was written back in 2007.


Reckitt seeks to fill Suboxone hole after 2009


LONDON, July 25 (Reuters) - Britain's Reckitt Benckiser Plc (RB.L) said on Wednesday it is seeking to fill the profit hole left by its heroin substitute drug Suboxone, which loses its exclusive licence in the United States at the end of 2009.
Reckitt's pharmaceutical business accounts for around 10 percent of group profit and the company is working to soften the blow of the loss of the highly-profitable Suboxone in the United States, which accounts for over half the unit's earnings.
The pharmaceutical division has two-thirds of its business in North America with Suboxone, while the other third of profits comes largely from Europe with a similar type of drug for opioid dependence, Subutex.

"Around 80 percent of the business in North America could go away, which accounts for around 2 percent of group revenues and up to 6 percent of profits," group Chief Executive Bart Becht told a news briefing after second-quarter results.
Reckitt has seen strong growth from its pharmaceutical unit helped by regulatory changes which now allow U.S. medical practices to take up to 100 patients for treatment with Suboxone up from the previous limit of 30 patients.
"We are working on pipeline products, but there is no guarantee that these can completely replace the Suboxone business," Becht said at the briefing.
When Reckitt loses its Suboxone licence, the bulk of the business is expected to be taken up by generic products from competitors, he added.
The company hopes to partly offset the blow with its newly-granted exclusive licence for Suboxone in Europe to 2016 and is looking to roll out the product in a number of European markets with its partner Schering-Plough Corp. (SGP.N).
The pharmaceutical division saw net revenue rise 51 percent to 92 million pounds ($189.5 million) in the first half and operating profit rise 72 percent to 50 million pounds with an operating margin of 54 percent.

Source:
Reuters.com
Posted by:
Dee
09/20/2009

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