Opko Health acquires late-stage ophthalmic budesonide product
This article was originally published in Scrip
Executive Summary
The Miami-based company Opko Health has licensed Teva's proprietary formulation of budesonide for development as an ophthalmic product. The product is currently marketed as Xavin in Italy for the treatment of asthma. The exclusive worldwide rights involve its use in the treatment of various inflammatory and allergic conditions of the eye. Opko is developing a pipeline of ophthalmic products, with its lead investigational product, the gene silencing agent bevasiranib which inhibits the production of vascular endothelial growth factor, undergoing Phase III trials for wet age-related macular degeneration and diabetic macular oedema. Opko was formed from the merger last year of Acuity Pharmaceuticals and Froptix, with the resulting company reversing into a publicly quoted company (Scrip Online, April 4th, 2007).