By Global Stocks News
VANCOUVER, BC, Dec. 20, 2020 /CNW/ - Medexus Pharmaceuticals
(MDP.V) is a specialty pharmaceuticals company that
delivers innovative medicines to underserved segments of the
market.
With over 20,000 prescription drug products approved for
marketing in North America, the
pharmacology space is fiercely competitive. Identifying
"underserved markets" requires scientific, regulatory and business
savvy.
Medexus' CEO Ken d'Entremont – a chemist by trade - is the
former V.P of business development at Big Pharma company Sanofi,
where he led the in-licensing initiatives for Sanofi Canada.
The current focus at MDP includes rheumatology
(arthritis/joints/muscles), auto-immune disease
(diabetes/MS/lupus), specialty oncology (cancer) and pediatrics
(child healthcare).
On December 18, 2020 Medexus
announced it has signed an exclusive license agreement with
Ethypharm to register and commercialize Triamcinolone Hexacetonide
Injectable Suspension 20 mg/mL (TH) in the U.S.
TH is used to treat adults and teenagers suffering from
arthritis. The effects last twice as long as competitive
products.
This exclusive agreement is expected to address existing supply
chain issues, while reducing hospital visits and the need for
general anesthetics.
Physically active aging Baby Boomers are plagued by joint
pain. Next year, the total number of people older than 65
years will jump to 656 million (about 11% of the population).
In California, the over-65 population is increasing at twice the
speed of millennials.
According to an Acumen Research Report, the global
Joint Pain Injections Market is estimated to grow at
CAGR 8% in the next six years, to reach USD $5.7 billion by 2026.
Medexus expects to file for FDA approval of TH within 12-24
months.
On November 16, 2020 Medexus
published financial and operating results for the three months
ended September 30, 2020 (Q2,
2021).
Medexus achieved revenue of $23.6
million (CND) for the three-month period ended September 30, 2020, a 40% increase over the same
period, the previous year.
The big revenue growth catalyst was the $3 million quarterly revenue derived from IXINITY
sales.
IXINITY is used to treat Hemophilia B – a hereditary bleeding
disorder. Hemophilia occurs in approximately 1 in 5,000 live
births.
IXINITY was absorbed by MDP in February, 2020 in a
"transformative acquisition". At that time, the product was
booking 40% year-over-year growth. Since that event, the MDP stock
price has risen 74%.
MDP paid USD $30 million for
IXINITY. The purchase price was non-dilutive – coming from
existing cash and a $20 million
credit facility with MidCap Financial.
The U.S. hemophilia B market is approximately USD $734 million and growing, with a highly
concentrated prescriber base (limited number of physicians treating
the disorder).
"IXINITY is an FDA approved product with a track record of
safety, efficacy and growing sales," stated d'Entremont.
The product is currently approved for patients 12 years and
older. An MDP Phase 4 clinical trial is investigating the
safety and efficacy of IXINITY for children.
"The pediatric segment is estimated to represent one-third of
the hemophilia B population," stated d'Entremont, who is targeting
"a label expansion" for IXINITY.
"Medexus' $95 million 12-month
trailing revenue is within 5% of its current market cap," stated
Global News CEO Guy Bennett on
December 20, 2020, "By comparison,
the $209 billion Pfizer has 12-month
trailing revenue of about $45
billion, about 21% of its market cap".
Medexus has 43 dedicated North American sales reps.
The November 16, 2020 financials
reveal that Medexus' selling and admin expenses decreased this
quarter from 64.4% of revenue to 46.6% of revenue.
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SOURCE Global Stocks News