Perhaps Generic producers will shine as the graying of the baby boomers continues!
Duramed Encouraged by Steady Growth of Cenestin(R)
* Total weekly prescriptions up 40 percent from final week of third quarter 2000 * New weekly prescriptions up 55 percent from final week of third quarter 2000 * Company optimistic about preliminary fourth quarter performance estimates
CINCINNATI, Jan 3, 2001 /PRNewswire via COMTEX/ -- Duramed Pharmaceuticals, Inc. (Nasdaq: DRMD chart, msgs) announced today that total weekly prescriptions for its menopausal drug Cenestin(R) (synthetic conjugated estrogens, A) Tablets for the week ended December 22, 2000, have risen to 18,705, up 40 percent from the 13,323 total weekly prescriptions written the final week of the third quarter 2000.
Additionally, new weekly prescriptions for the week ended December 22, 2000, tallied 7,269, a 55 percent increase from the 4,683 new weekly prescriptions written the final week of the third quarter 2000.
"We are encouraged by the solid growth of Cenestin and optimistic about its potential," said Duramed President and Chief Operating Officer Jeffrey T. Arington. "Prescription counts for this drug have grown steadily throughout the quarter, as they have done throughout the year."
E. Thomas Arington, Duramed Chairman and Chief Executive Officer, added, "This recent prescription data reveals the strongest growth trend since Cenestin's introduction. Cenestin's performance is one of several reasons that the company remains optimistic about meeting its corporate goals for the years 2000 and 2001."
Duramed anticipates releasing preliminary fourth quarter 2000 results the week of January 22, 2001.
About Duramed Pharmaceuticals, Inc.
Duramed Pharmaceuticals develops, manufactures and markets prescription drug products. The company's business strategy emphasizes products with attractive market opportunities and potentially limited competition due to technological barriers to entry, focusing on women's health and the hormone replacement therapy market. On March 24, 1999, the FDA approved the company's first branded product, Cenestin(R) (synthetic conjugated estrogens, A) Tablets, for the treatment of moderate-to-severe vasomotor symptoms associated with menopause.
Duramed's containment manufacturing facility for the production of hormones distinguishes the company from most competitors. The facility incorporates enclosed product flow and state-of-the-art environmental controls to ensure purity, stability, and tablet uniformity for Cenestin and other hormone products. While Duramed's primary focus will be solid oral dose hormones, the company's other areas of concentration -- controlled release technology and oncology -- continue to represent attractive market opportunities.
On October 6, 1999, Duramed entered into an alliance with Solvay Pharmaceuticals, Inc. to jointly promote three of the companies' hormone products to obstetricians and gynecologists across the United States: Duramed Pharmaceuticals' Cenestin and Solvay Pharmaceuticals' Estratest(R)(1) and Prometrium(R)(2).
The company's stock is traded on Nasdaq using the symbol DRMD. Additional information about the company can be found on the World Wide Web at www.duramed.com and www.cenestin.com .
(1) -- Estratest is a trademark of Solvay Pharmaceuticals.
(2) -- Prometrium is a trademark of Solvay Pharmaceuticals.
Like all estrogen drug products, CENESTIN(R) Tablets should not be used in women with known or suspected pregnancy, breast cancer, or estrogen-dependent neoplasia, undiagnosed abnormal genital bleeding, active thrombophlebitis, or thromboembolic disorders. Estrogens have been reported to increase the risk of endometrial carcinoma in postmenopausal women with an intact uterus. The most common adverse events reported in clinical experience with CENESTIN included headache, insomnia, asthenia, nervousness, paresthesia, and depression. For additional information on CENESTIN, see full prescribing information.
The Securities and Exchange Commission (SEC) encourages companies to disclose forward-looking information so that investors can better understand a company's future prospects and make informed investment decisions. Due to changing market conditions, product competition, the nature of product development and regulatory approval processes, the achievement of forward- looking statements contained in this press release are subject to risks and uncertainties. For further details and a discussion of these risks and uncertainties, see Duramed's SEC filings, including its annual report on Form 1O-K.
Source: Duramed Pharmaceuticals, Inc.
Contact:
Investor Relations, Duramed Pharmaceuticals, Inc.,
513-731-9900; or Media Inquiries, Ellen Knight or Carrie Krysanick of Dan
Pinger Public Relations, Inc., 513-564-0700
URL: duramed.com |
