UPDATE:Shire Seeks FDA OK To Provide Vela Amid Drug Shortage
July 07 2009 - 4:11AM
Dow Jones News
Pharmaceutical company Shire PLC (SHP.LN) said late Monday the
U.S. Food and Drug Administration asked it to seek permission to
provide doctors with its experimental treatment for Gaucher disease
because of a shortage of Genzyme Corp.'s (GENZ) Cerezyme.
Shire said it filed a treatment protocol for velaglucerase alfa,
or vela, at the request of the U.S. Food and Drug Administration
because of shortages of Cerezyme, an approved and marketed
treatment, caused by manufacturing problems at a Genzyme plant.
If approved by the FDA, the treatment protocol would allow
physicians to treat Gaucher disease patients with vela before it is
approved for sale and commercially available. Shire said it would
provide it initially free of charge.
Shire said it is currently working with the FDA to file a new
drug application to get vela approved.
Panmure Gordon & Co. analyst Savvas Neophytou told clients
in a research note Tuesday acceptance of the protocol by the FDA
would let Shire access the $1.2 billion Gaucher disease market
earlier than expected.
"Should the company be able to access this market in 2009, it
could represent a good entry into this market because it had
previously been assumed that Cerezyme was a very strong incumbent,"
Neophytou said.
He added if Shire can access the market while Genzyme is "on the
floor" then it should be able to convert these initial sales into
long-term business. But he added that would work best provided
Cerezyme supply was constrained beyond August.
At 0826, shares in Shire were up 13 pence or 1.6% at 850.5
pence, outperforming a higher FTSE 100 index, up 0.3%.
Genzyme's Cerezyme is the only approved enzyme replacement
therapy for treating Gaucher disease, an often severe and
debilitating condition caused by an enzyme deficiency.
The Cambridge, Massachusetts biotechnology company discovered a
virus in a "bioreactor" at a facility used to make Cerezyme last
month, and shut down production. Current inventories wouldn't be
enough to avoid shortages, Genzyme said.
The company said it expects production to resume later this
month.
Monday, Israel's Protalix BioTherapeutics Inc. (PLX) said the
FDA approached it about submitting a treatment protocol for its
experimental drug to treat Gaucher disease, prGCD. It isn't yet
approved for sale either, and a phase three trial is underway.
Protalix said the FDA asked it to consider submitting the
protocol because of an expected shortage of Genzyme's Cerezyme.
Company Web site: www.shire.com
-By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272;
jason.douglas@dowjones.com