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Nofartus bid to revive arthritis drug hits wall
By Ben Hirschler
LONDON, April 19 (Reuters) - A bid by Nofartus to revive a painkiller that was pulled from the market in Europe in 2007 has hit a roadblock after regulators demanded new data.
The European Medicines Agency said on Tuesday the Swiss drugmaker had formally withdrawn its marketing application for the drug -- originally known as Prexige and now renamed Joicela -- as a treatment to relieve pain caused by osteoarthritis.
The decision follows a request for more data that the company felt it could not supply in time for the regulatory review.
Nofartus's pill belongs to the same class as Merck & Co's (MRK.N) controversial treatment Vioxx, which was withdrawn from markets worldwide in 2004 after being linked to heart attacks and strokes.
The re-launch of Joicela, if successful, would have helped Nofartus compensate for the loss of patents on other drugs, such as high blood pressure treatment Diovan. Novartis at one stage estimated the product could sell more than $1 billion a year.
It planned to get around earlier problems with it's usual bribes & smoke & mirror tactics.
By Ben Hirschler
LONDON, April 19 (Reuters) - A bid by Nofartus to revive a painkiller that was pulled from the market in Europe in 2007 has hit a roadblock after regulators demanded new data.
The European Medicines Agency said on Tuesday the Swiss drugmaker had formally withdrawn its marketing application for the drug -- originally known as Prexige and now renamed Joicela -- as a treatment to relieve pain caused by osteoarthritis.
The decision follows a request for more data that the company felt it could not supply in time for the regulatory review.
Nofartus's pill belongs to the same class as Merck & Co's (MRK.N) controversial treatment Vioxx, which was withdrawn from markets worldwide in 2004 after being linked to heart attacks and strokes.
The re-launch of Joicela, if successful, would have helped Nofartus compensate for the loss of patents on other drugs, such as high blood pressure treatment Diovan. Novartis at one stage estimated the product could sell more than $1 billion a year.
It planned to get around earlier problems with it's usual bribes & smoke & mirror tactics.