) recently commenced shipments of Horizant extended-release
tablets in the US. The drug is approved in the US for the
treatment of moderate-to-severe primary restless legs syndrome
(RLS) as well as for the management of postherpetic neuralgia
(PHN) in adults.
XenoPort mentioned in its press release that the company has
been successful in resolving the manufacturing issues and expects
to file orders for wholesalers soon. The company expects Horizant
to be available to patients by the first week of June this year.
We note that
) was facing manufacturing delays regarding Horizant in the US
which led to product shortage.
We remind investors that Glaxo and XenoPort had a
collaboration agreement for Horizant that was terminated in Nov
2012. Glaxo had commercialization rights to the drug through the
transition period, which ended on Apr 30, 2013. On May 1, 2013,
XenoPort re-acquired all commercialization rights to Horizant.
Glaxo, however, is expected to supply Horizant to XenoPort until
Oct 30, 2013.
We are encouraged by the news and believe that this will be a
huge relief for the company. Horizant's manufacturing delays have
been a concern for XenoPort over the last few months. Moreover,
because of the stock-out, no sales of Horizant were recorded
since March this year. As per Glaxo, Horizant's first quarter
sales were $1.2 million.
XenoPort, a biopharmaceutical company, carries a Zacks Rank #3
(Hold). Meanwhile, other biopharma stocks like
Jazz Pharmaceuticals Public Limited Company
) currently look better positioned carrying a Zacks Rank #1
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XENOPORT INC (XNPT): Free Stock Analysis
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