Actelion / renin inhibitor / (request for partner...)
LONDON, Oct 29 (Reuters) - Swiss biotechnology company Actelion (Zurich:ATLZn.S - News) said on Wednesday it would seek partners for some of its next-generation drugs, which Chief Executive Jean-Paul Clozel believes could be multibillion-dollar sellers.
Actelion -- a rarity among European biotechs in already making a profit on sales of its first two products -- has so far adopted a go-it-alone strategy.
But Clozel said the company would need to strike alliances with major pharmaceutical companies as it diversifies away from niche drugs and starts to develop mass-market treatments.
"Some of these drugs are clearly multibillion types of drugs that we need to partner...but we are not in a hurry," he told investors and analysts at an R&D presentation in London.
The firm's existing profit stream, which reached 14.7 million Swiss francs ($11.09 million) in the third quarter, plus a recent 125 million francs convertible bond, gave Actelion an unusual degree of independence, he added
If all goes well, the company could file in 2005 and 2006 for approval for two more drugs -- Veletri for acute heart failure and stroke treatment clazosentan, recently added with the acquisition of Axovan.
But the biggest potential lies deeper in the pipeline.
Actelion believes it has finally solved a key problem in developing a new class of blood pressure drugs called renin inhibitors which could rival established ACE and ARB blockers from the likes of Novartis AG, Aventis SA and Merck.
INTO THE BLOODSTREAM
Previous attempts over several decades to synthesise effective oral renin inhibitors have stumbled because of the difficulty of getting sufficient quantities of drug into the bloodstream. Actelion now thinks it has solved this so-called bioavailability issue and plans to initiate a full pre-clinical development programme by the end of this year.
Clozel said developing the renin inhibitor long-term would require costly, large-scale clinical testing, and eventual marketing of such a drug -- if it is successful -- would require an extensive sales force.
"The renin inhibitor is clearly a drug for Big Pharma," he said, explaining the need to investigate partnership deals.
Actelion's current big seller, by contrast, is Tracleer, a specialist product used to treat a crippling heart and lung disease called pulmonary arterial hypertension (PAH).
The company expects annual sales of Tracleer for treating PAH to reach $400-$500 million by 2006. It is also conducting trials in other indications, including skin cancer and finger ulcers.
Other projects highlighted during the R&D day included a urotensin inhibitor for kidney failure that is now entering Phase II development, and an orexin inhibitor entering pre-clinical development for the treatment of sleep disorders.
Following the acquisition of privately owned rival Axovan for up to 252 million francs last month, Clozel said Actelion now had a research and development engine to drive sustainable growth.
"Today we have a machine that can put three to four compounds a year into clinical trials," he said... |
