Biotech Values

[hmpa]

I was always amazed that Novartis would spend a substantial amount of money running phase trials for Calcitonin (no matter injectable, oral or intranasal) as an osteoarthritis treatment; there had never been any evidence of a link between the blood levels, etc. of Calcitonin and the disease progression or severity. The continuing osteoporosis trial is, however, interesting as this is the first attempt ever to study this medicine (Calcitonin) - which is used for decades already - in well controlled conditions. Based on drug plasma levels, etc. there is no doubt that the agent gets delivered - the question is if it works.