Wyeth files constipation drug in Europe |
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Mon, 14 May 2007 15:35
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NEW YORK (AP) - Wyeth Pharmaceuticals, a unit of drug maker Wyeth, and biotech drug developer Progenics Pharmaceuticals Inc. announced Monday they reached a milestone in the development of a constipation treatment for people on painkillers.The drug companies said Wyeth Pharmaceuticals has submitted a marketing application to European regulators for a form of methylnaltrexone that is given under the skin to treat the constipation that results from taking opiate-based painkillers.As a result of the application, Wyeth will make a $4 million milestone payment to Progenics. In late March, Progenics submitted a similar application to the Food and Drug Administration.The applications are based on data from two late-stage studies showing that methylnaltrexone significantly alleviated the constipation induced by opiate painkillers.In 2005, Wyeth and Progenics entered into an agreement for the joint development and commercialization of methylnaltrexone. Under terms of the deal, Wyeth receives worldwide rights to methylnaltrexone, and Progenics retains an option to co-promote the product in the United States. The companies are collaborating on worldwide development.Shares of Wyeth declined 12 cents to $55.73 in Monday morning trading. Progenics shares rose 34 cents, or 1.6 percent, to $22.34.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Progenics filing for constipation drug 