- Quarter Marked by Launch of RYZOLT(TM) in U.S. - - Company to Submit Response to FDA for Novel Trazodone Formulation Next Week -
LAVAL, QC, Aug. 7 /PRNewswire-FirstCall/ - Labopharm Inc. (TSX: DDS; NASDAQ: DDSS) today reported its financial results for the second quarter ended June 30, 2009. All figures are in Canadian dollars unless otherwise stated.
"The second quarter of 2009 was highlighted by the U.S. commercial launch of RYZOLT(TM) by our marketing partner, Purdue Pharma," said James R. Howard-Tripp, President and Chief Executive Officer, Labopharm Inc. "We are encouraged by a number of aspects since the launch, including the growth of new prescriptions and the migration of patients to higher dosage strengths, which shows the product is being used as intended. However, the product was launched into a challenging market impacted by seasonality and a weakened U.S. economy. We continue to believe that RYZOLT offers physicians and patients an excellent option in the treatment of pain and are confident in the long-term prospects for our product in the U.S. market."
Added Mr. Howard-Tripp, "In Canada, our experience shows that with a strong marketing effort, our once-daily tramadol product performs well over time. In fact, in May and June of this year, our once-daily tramadol product was the best selling tramadol product in the country."
"We continue to prepare for commercialization of our novel trazodone formulation in the U.S.," concluded Mr. Howard-Tripp. "Following discussions with the U.S. Food and Drug Administration regarding its complete response letter and our API supplier's submission of its action plan to address deficiencies at its manufacturing facility, we intend to file our response with the FDA next week."
|SOURCE Labopharm Inc.|
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