Pharmaceutical Company Achieves Positive In-Vitro Testing Results Diabetes Drug Global Pharmaceutical & Biotechnology Outlook for 2013 Continues to be Encouraging
CORAL SPRINGS, Florida, January 31, 2013 /PRNewswire/ --
Crown Marketing Pharmaceuticals (OTC: CWNM) announced today that it has achieved positive in-vitro testing results of the most widely prescribed Diabetes drug commonly known as Metformin. Crown's Controlled Drug Delivery Device (CDDT) is less than half the size of the 500mg dosage tablet, and may reduce and ameliorate many of the gastrointestinal side effects of Metformin. The most common adverse effects of Metformin are gastrointestinal upset including diarrhea, cramps, nausea and vomiting. Crown Marketing Pharmaceuticals (OTC: CWNM) believes it can significantly reduce or eliminate these effects with its patented technology.
Patients also have issues about the taste and odor associated with the medication. Common complaints are that it "smells fishy" and can leave a metallic taste in the mouth. This is critical because it impacts patient compliance-if it tastes or smells bad, patients oftentimes will not take the medication as directed. Crown's CDDT can overcome these issues due to its novel, diffusion based design and its impermable coating. According to IMS figures, the total market sales for all forms of Metformin were $1.6 billion, with sales of Metformin extended-release formulation alone accounting for over $460 million last year.
Metformin is an pharmaceutical oral diabetes medicine that helps control blood sugar levels originally sold as Glucophage. Metformin is for people with type 2 diabetes. Metformin is sometimes used in combination with insulin or other medications, but it is not for treating type 1 diabetes. One of the more common long-term complications of diabetes is diabetic renal disease ("renal" refers to the kidneys). Also known as diabetic nephropathy, this condition is a result of direct vascular abnormalities that accompany diabetes. Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) announced this week that its kidney disease drug, Zerenex, is also receiving positive signs as it has performed better than a placebo in late-stage clinical trials. The New York company said Monday that Zerenex showed a "highly statistically significant" change in serum phosphorus levels compared with a placebo in patients with advanced kidney failure who were on dialysis. Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) closed up yesterday at $8.49 per share on large trading volume over 49.1Million shares traded.
The Global Pharmaceutical & Biotechnology sector continues to remain attractive, as cost containment initiatives, restructuring/deconsolidation, share repurchase program, M&A, emerging market growth potential and dividend policy continue to be encouraging. Over the next few years, the growth of the industry would be shaped up by a battle between fundamental growth drivers (Value added innovation) versus regulatory pressures to contain costs. In Merger & Acquisition news, MAP Pharmaceuticals, Inc. (NASDAQ: MAPP) is a biopharmaceutical company focused on developing and commercializing new therapies to address undermet patient needs in neurology. The Company is developing LEVADEX®, an orally inhaled investigational drug for the acute treatment of migraine. Allergan, Inc. (NYSE: AGN) inked a deal with MAP Pharmaceuticals, Inc. (NASDAQ: MAPP) to acquire the latter. As per the terms of the deal, Allergan will acquire all the shares of MAP Pharmaceuticals for $25.00 per share. The offer price represents premium of 60% over MAP Pharmaceuticals' closing price back on Jan 22, 2012.
Another leader in the sector, Amarin Corporation (NASDAQ: AMRN) was originally a small British drug delivery company, which evolved into a cardiovascular drug development company and is now among the more promising biopharmaceutical companies in the US. Vascepa (icosapent ethyl) for treatment of hypertriglyceridemia is Amarin's first FDA approved product, whose market introduction was announced by the company on January 24, 2013. Hypertriglyceridemia refers to high blood level of triglycerides, a blood fat that contributes to cardiovascular problems.
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