ViroPharma Inc. (VPHM) announced that positive data on Plenadren was recently published in the Journal of Clinical Endocrinology and Metabolism. The drug was approved by the European regulatory body in November last year for use as a treatment for adrenal insufficiency in adults.
The study results demonstrated that patients dosed with Plenadren once daily experienced a better circadian-based serum cortisol profile, lower body weight, lower blood pressure, and improved glucose metabolism, compared to treatment with immediate release hydrocortisone thrice daily.
We note that the drug has orphan drug designation both in the US and the European Union (EU). ViroPharma plans to launch Plenadren in the EU in the fourth quarter of 2012.
Plenadren became a part of ViroPharma’s portfolio following the acquisition of Swedish pharma company, DuoCort Pharma AB, for an upfront payment of $33.6 million in November last year. Additionally, DuoCort Pharma is eligible to receive $131 million on the achievement of certain milestones.
It has been an eventful month for ViroPharma. Earlier this month, the Scottish regulatory body approved the company’s epilepsy drug, Buccolam. The drug is approved for the treatment for prolonged, acute, convulsive seizures in infants, toddlers, children and adolescents, aged 3 months to less than 18 years.
In December last year, ViroPharma had announced the launch of Buccolam in the United Kingdom for the same indication.
Buccolam became a part of ViroPharma’s portfolio following the acquisition of Auralis Limited in May 2010.
We currently have an Outperform recommendation on ViroPharma. The stock carries a Zacks #2 Rank (Buy rating) in the short-run.
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