Healthcare Industry News: Horizon Pharma
News Release - June 14, 2006
First Horizon Receives FDA Orphan Drug Designation for Its Glycopyrrolate to Treat Chronic Drooling in Pediatric PatientsALPHARETTA, Ga.--(HSMN NewsFeed)--June 14, 2006--First Horizon Pharmaceutical Corporation (NASDAQ:FHRX ) today announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation for the Company's glycopyrrolate, which is used to treat chronic moderate to severe drooling in pediatric patients. This condition often results from cerebral palsy and other neurological disorders. The Company currently is conducting clinical trials for this indication. Glycopyrrolate, an anticholinergic agent, also is approved as an adjunctive therapy in the treatment of peptic ulcers.
The FDA orphan drug designation is intended to provide incentives to encourage the development of drugs for diseases affecting fewer than 200,000 people in the U.S. Following FDA approval, the Orphan Drug Act provides drug market exclusivity for a period of seven years for a product's orphan indication. Additional incentives include tax credits related to clinical trial expenses, exemption from the FDA user fee, and FDA assistance in clinical trial design.
Patrick Fourteau, President and CEO of First Horizon, stated, "The development of this new formulation of glycopyrrolate by First Horizon, together with this orphan drug designation - the first for the Company - are the result of our recently expanded Medical Affairs and Regulatory Group and our increased investment in new product development."
About First Horizon Pharmaceutical Corporation
First Horizon Pharmaceutical Corp. is a pharmaceutical company specializing in sales, marketing and the development of branded prescription products focused on Cardiovascular/Metabolic and Women's Health. The Company's Cardiovascular/Metabolic products treat patients with high cholesterol, hypertension, high triglycerides, unstable angina and type 2 diabetes, and its Women's Health products are designed to improve the health and well-being of women and their babies. Headquartered in Atlanta, Georgia, and founded in 1992, First Horizon employs more than 700 people, including approximately 525 sales representatives. The Company's success is based on placing the needs of patients first, improving health and quality of life, and implementing its business platform - an Entrepreneurial Spirit, Innovation, Speed of Execution, Simplicity and Teamwork. For more information about the Company and its products, visit www.fhrx.com.
Source: First Horizon Pharmaceutical
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