Update from Watson
Watson has high hopes for Stellar’s Uracyst drug
March 31, 2010 by leonardzehr · Leave a Comment
Watson Pharmaceuticals (NYSE:WPI) CEO, Paul Bisaro, painted a rosy picture of how Stellar Pharmaceuticals’ (OTCBB: SLXCF (SLXCF 1.03 ?8.42%)) Uracyst drug, which is indicated to treat interstitial cystitis, fills out its urology strategy.
According to a presentation at a healthcare conference sponsored by Barclays Capital, Mr. Bisaro said that Watson’s strategy is based on the 10 most common reasons why people go to an urologist, everything from benign prostatic hyperplasia to cystitis, and “we look at basically each of the target areas and want to fill out our pipeline accordingly.”
Treating cystitis represents a “sort of low bar” currently with a market value of around $500 million (U.S.) in annual sales, he pointed out.
“Part of that is because there isn’t really an effective treatment for cystitis. We think if Uracyst is successful, we will see that bar grow, and we will be the beneficiary of that bar.” Watson’s clinical testing with Uracyst is now at the end of Phase 2, he added.
At the end of 2006, Watson licensed the U.S. rights for Uracyst from Stellar, which currently sells the product direct in Canada and through out-licensing agreements in the rest of the world.
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