NEW YORK, NY / ACCESSWIRE / October 9, 2017 / Shares of Omeros Corporation pulled back on Friday but was a big winner last Thursday when the company announced it had reached an agreement with Endo International PLC's Par Pharmaceuticals in which the company would not launch a generic version of Omeros' Omidra until April of 2032. Shares of Therapix Biosciences soared higher after the company announced it has entered into an exclusive agreement with Catalent Pharma Solutions to develop THX-TS01.
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Therapix Biosciences Ltd.
Omeros Corporation's shares closed down 6.04% on Friday with a little over 900,000 shares traded. Despite the pullback, shares were on fire last week after the company announced Thursday that it had reached a settlement with Endo International PLC's Par Pharmaceutical Inc. which prevents Par from launching a generic version of Omeros' Omidra until April 1st, 2032. Omidria is the company's only FDA approved product that was approved by the FDA back in 2014. As per the agreement, if Par enters the market, it will have to pay a 15% royalty on net sales of the generic version to Omeros until the last patents expire on October 23rd of 2033. CEO of Omeros, Gregory A. Demopulos M.D., commented, "We are pleased with this settlement and what it represents to our company and its shareholders. The settlement affirms our belief in the strength of our patents for OMIDRIA. Sales of OMIDRIA continue to grow as more and more facilities and surgeons incorporate the product into their cataract surgery routines, improving postoperative outcomes for their patients."
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Therapix Biosciences Ltd.'s shares closed up 4.51% on almost 100,000 shares traded this past Friday. The clinical-stage pharma company announced that it has entered into an exclusive agreement with Catalent Pharma Solutions to formulate, develop, and clinically manufacture THX-TS01. According to the company's press release, THX-TS01 is "a first-in-class, proprietary investigational drug candidate for the treatment of the symptoms of Tourette Syndrome." Catalent Pharma Solutions is a global provider of drug delivery technology and development solutions for drugs, biologics and consumer health products. Therapix Biosciences Chairman of the Board of Directors, Ascher Shmulewitz M.D., Ph.D., commented, "This is the first time that two cannabinoids, Tetrahydrocannabinol and Palmitoylethanolamide, which we believe work synergistically, are being combined in a proprietary single dose that may potentially provide a turnkey solution to addressing the symptoms of Tourette Syndrome. Our objective in developing THX-TS01 is to enable the commercialization of a more effective treatment for the symptoms of this devastating, unmet medical need. We believe that this agreement may bring us one step closer to this goal."
"This agreement with Catalent—a world-class drug development, delivery and supply organization—reflects our belief in the promise of THX-TS01 as we look forward to advanced-stage clinical trials and, if successful, commercialization. We could not be more pleased with Catalent as our new development and manufacturing partner," he further said.
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