Actelion To Start Late Stage Trial With PGI2 By End-2009
By Julia Mengewein, Of DOW JONES NEWSWIRES
ZURICH -(Dow Jones)- Swiss biotech firm Actelion Ltd. (ATLN.VX) said Friday it
plans to start late-stage trials for its compound PGI2, a potential treatment
for pulmonary arterial hypertension, by the end of the year after the compound
proved safe and effective in a phase II trial.
"This efficacy with good tolerability makes us determined to accelerate our
development program," Chief Executive Jean-Paul Clozel said in a statement.
Pulmonary hypertension, or PAH, is a rare blood vessel disorder of the lung.
Actelion generates the bulk of its revenue with Tracleer, a pill against PAH
and also offers the drug Ventavis, which PAH patients inhale. In 2008, Tracleer
generated sales of CHF1.29 billion and Ventavis CHF94.6 million.
Actelion shares have lost 4.2% in the year to date, while the Stoxx Europe 600
healthcare index has shed around 3.4% of its value. Investors have been
reluctant to buy into the stock, as the company has four late stage trials
running that are expected to generate share-moving data in the second half of
2009.
Thursday, Actelion shares closed at CHF56.90.
Company Web site: www.actelion.com
-By Julia Mengewein, Dow Jones Newswires; +41 43 443 80 45, julia.mengewein@
dowjones.com.
(END) Dow Jones Newswires
07-17-090209ET
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