Globe says Dimethaid Research entering the Vioxx void
2005-01-12 07:07 ET - In the News
The Globe and Mail reports in its Wednesday edition that after nearly two years of frustration, Dimethaid Research has a rare opportunity to fill the void left by the recall of arthritis blockbuster Vioxx and safety concerns swirling around Celebrex. The Globe's Leonard Zehr writes that even though it has been trying to crack the arthritis market in Canada with its Pennsaid lotion that is rubbed into painful arthritic joints, money troubles and management turmoil have overshadowed the drug's reputation as a safe and effective alternative to popular pain pills like Advil, Motrin and Aleve. "The problems with Vioxx and Celebrex are the perfect storm for us," said new Dimethaid chairman Dan Chicoine. "If we can't capitalize on this, we never will." The early signs appear promising. Dimethaid, which plans to release second-quarter financial results this week, is expected to disclose that Pennsaid sales rose 11 per cent in October, the first month of the Vioxx recall, compared with September, and then rose 26 per cent on a month-over-month basis in November. Those results represent a dramatic turnaround in the fortunes of the company, which was teetering on the brink six months ago. |
