Medivir Mulls Separation As Simeprevir Royalties Decline
As royalties from hepatitis C therapy simeprevir continue to decline its originator, Swedish biotech Medivir, is considering a separate public listing for its commercial operations that would allow the remaining concern to return to its previous R&D roots.
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Medivir outlines plans to cut costs, reduce headcount and streamline priorities as the biotech focuses solely on four assets in clinical development.
Incoming President and CEO John Milligan opened Gilead Sciences Inc.'s first quarter earnings call April 28 talking about sales growth of new HIV drugs and pipeline efforts in non-alcoholic steatohepatitis (NASH), but analysts focused in quickly on overall reductions in hepatitis C sales, including a more than 50% decrease year-over-year in US sales of Harvoni.
The FDA gave Johnson & Johnson subsidiary Janssen Therapeutics approval on 22 November to market Olysio (simeprevir) as a treatment for chronic hepatitis C virus (HCV) as part of an antiviral treatment regimen in combination with pegylated interferon and ribavirin.