Valeant (VRX) Ups Sales Force To Support Xifaxan/Relistor
Zacks Investment Research | Nov 29, 2016 08:32PM ET
Valeant Pharmaceuticals International, Inc. (NYSE:VRX) announced that it is expanding its sales force to reach primary care physicians. The new sales force team is going to promote the company’s two products, Xifaxan for irritable bowel syndrome with diarrhea (IBS-D) and Relistor for opioid induced constipation (OIC).
Valeant Pharmaceuticals and partner Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) commercially launched their constipation tablets, Relistor (methylnaltrexone bromide) in the U.S. in September this year. Relistor Tablets (450 mg once daily) were approved to treat OIC in adults with chronic non-cancer pain in July. Progenics has exclusively licensed the development and commercialization rights for Relistor to Valeant.
Valeant Pharmaceuticals and its wholly owned subsidiary, Salix Pharmaceuticals, Inc. received FDA approval for Xifaxan (rifaximin) 550 mg for the treatment of irritable bowel syndrome (IBS-D) in adults in May 2015. However, the drug has performed below expectations due to higher managed care rebates. The sales force expansion strategy is aimed at getting at better patient access for the drug.
The company’s share price is down 3.81%, though the Zacks Classified Drugs industry has seen growth of 7.55% in the past one month.
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