Update: Preparing for first approval
Vernalis represents a reduced risk late-stage pharmaceutical play, with the near-term prospect of approval in April of Tuzistra XR, an extended release formulation of an existing cough cold prescription product. The pipeline of four other products offers longer-term value potential, covering up to 80% of the c US$2bn US branded cough cold market. Vernalis is engaged in commercial and logistic preparations as the Tuzistra XR approval date approaches. We have increased our valuation from £270m to £323m.Vernalis is a holding company. Through its subsidiaries, Co. is a commercial stage pharmaceutical company focused on drug development. Co. has three marketed products: Tuzistra® XR, in the U.S. prescription cough cold market; Moxatag®, the only once-daily amoxicillin approved in the U.S. for tonsillitis and pharyngitis; and frovatriptan, an acute treatment for migraine. In addition, Co.'s nine programs in its new chemical entity development pipeline are: V158866 for central nervous system indications; CP1-444 and V2006 for immuno-oncology indications; AUY922, Tosedostat, Bcl-2, Mcl-1, and V158411 for cancer indications; and RPL554 for chronic obstructive pulmonary disease indications.
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