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Irvine's Spectrum stops making enlarged prostate therapy
Move will save the pharmaceutical firm more than $40 million.
By Tamirra StewartPublished: January 28, 2010 10:11 AM
Irvine-based Spectrum Pharmaceuticals plans to stop development of a therapy for enlarged prostates. The decision is expected to save the firm more than $40 million and will allow Spectrum to move forward with other projects.
Spectrum was producing the drug – ozarelix – for the treatment of benign prostatic hypertrophy, but it had been disappointing when used for lower urinary tract symptoms in men with the condition, according to company CEO and President Dr. Rajesh Shrotriya.
He says the move to stop development will allow the company to work on programs that have higher success rates and more effective treatment options for patients.
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Spectrum was producing the drug – ozarelix – for the treatment of benign prostatic hypertrophy, but it had been disappointing when used for lower urinary tract symptoms in men with the condition, according to company CEO and President Dr. Rajesh Shrotriya. He says the move to stop development will allow the company to work on programs that have higher success rates and more effective treatment options for patients. NEXT PAGE >> Related headlines Irvine-based Neomend raises $30 million Irvine's Tech Coast Angels ramps up entrepreneurial support State of the Union address focuses on jobs, economy |
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