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Cumberland Pharmaceuticals Raises $85 Million In IPO

This article was originally published in The Pink Sheet Daily

Executive Summary

First public offering for the pharmaceutical sector in 21 months suggests a financial thaw, but unlikely to spark an additional flood of deals.

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Hurry Up And Wait To Sell: DB Pharm Korea Signs Caldolor Licensing Deal

SEOUL - Although DB Pharm Korea signed a licensing deal to sell Cumberland Pharmaceuticals' injectable ibuprofen Caldolor, the Korean firm does not think it will be able to sell the product in Korean hospitals anytime soon

Biopharma News, In Brief

J&J halts development of once-monthly Risperdal Consta: Johnson & Johnson announced it is pulling the plug on development of the once-monthly version of the atypical antipsychotic Risperdal Consta, the long-acting version of risperidone currently approved for twice-monthly use, partner Alkermes announced Aug. 26. The decision will allow J&J to focus its efforts on directing once-monthly antipsychotic scripts to its newly approved once-monthly Invega Sustenna (paliperidone palmitate) (1"The Pink Sheet" DAILY, Aug. 3, 2009). Invega has not done well commercially, and J&J is hoping the long-acting version will improve its share based on the compliance advantage (2"The Pink Sheet," July 27, 2009). Another factor that may have played into J&J streamlining its efforts: future competition from Lilly, which also is pursuing a long-acting injectable version of its best-selling antipsychotic Zyprexa (olanzapine). Lazard analyst Terrence Flynn is maintaining estimates of Consta sales, pending data in 2H09 from J&J's second head-to-head comparison of Invega Sustenna and Risperdal Consta, which uses a higher initiation dose of Sustenna (150 vs. 50 mg); Sustenna failed to show non-inferiority in the first head-to-head against Consta

Biopharma News, In Brief

J&J halts development of once-monthly Risperdal Consta: Johnson & Johnson announced it is pulling the plug on development of the once-monthly version of the atypical antipsychotic Risperdal Consta, the long-acting version of risperidone currently approved for twice-monthly use, partner Alkermes announced Aug. 26. The decision will allow J&J to focus its efforts on directing once-monthly antipsychotic scripts to its newly approved once-monthly Invega Sustenna (paliperidone palmitate) (1"The Pink Sheet" DAILY, Aug. 3, 2009). Invega has not done well commercially, and J&J is hoping the long-acting version will improve its share based on the compliance advantage (2"The Pink Sheet," July 27, 2009). Another factor that may have played into J&J streamlining its efforts: future competition from Lilly, which also is pursuing a long-acting injectable version of its best-selling antipsychotic Zyprexa (olanzapine). Lazard analyst Terrence Flynn is maintaining estimates of Consta sales, pending data in 2H09 from J&J's second head-to-head comparison of Invega Sustenna and Risperdal Consta, which uses a higher initiation dose of Sustenna (150 vs. 50 mg); Sustenna failed to show non-inferiority in the first head-to-head against Consta

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