Vernalis Seeks Buyers, CEO To Step Down, As US Commercial Strategy Disappoints
Disappointing sales growth of its prescription extended-release cough-and-cold product has led Vernalis to decide to close down its US commercial operations, and to seek a buyer for the whole company.
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Slower than expected US sales of its first long-acting liquid cough-and-cold formulation, and improved visibility on its future US infrastructure costs, has prompted UK-based Vernalis to raise funds from existing investors to support further product launches and to reach the goal of sustainable profitability.