Why Plasmin will fail at Basuch + Lomb

Anonymous

Guest
There's been a little bit of buzz from the NSM about Plasmin and B+L's hopes on this being the secret weapon in the pipeline. Is Plasmin the magic bullet to be that "non-steroid steroid" and reduce inflammation while having very few adverse events? In short, probably not. Here's why:

1) B+L has licensed Plasmin technology from Bayer in January 2005 for ophthalmic use. It's now 2011 and there is still yet to be announced a successful phased trial and a market launch date.

2) Mechanism of Action: Plasmin is the protease responsible for cleaving fibrinogen and fibrin at focal contact zones. Neovascularization was shown with uPA (a type of plasmin) in rabbit corneas. The vascular response could possibly decrease the possibility of stromal ulceration. Remember home study, kids? The stroma layer is deep. That means that if this piece of junk makes it to market that they may be trying to obtain a funky indication. It doesn't mean that plasmin will replace a steroid, it's a different animal.

3) Possible indication: Epithelial defects and stromal ulceration...meaning it could work in areas where a steroid is contraindicated. Like corena ulcers or maybe somewhere else off label. The good news is you will have something novel for eye doctors. The bad news is that corneal ulcers are tricky (sterile/bacterial/viral/fungal, considered an emergency, etc.). More proven therapies are being used for this very threatening condition and plasmin may be an insignificant piece of the puzzle. B+L will need some major and unbiased white papers to prove the corneal-protective properties that plasmin can offer, assuming that is a possible indication.

4) Isn't this Zirgan territory? Well, you know how large the herpetic keratitis market is (or isn't). Doctors were stoked because B+L did something none of the big pharma companies were stupid enough to do: invest millions in a market that is so small that your drug will go off patent before you turn a profit. Think of Plasmin as trying to get a piece of this already small and pathetic marketplace. If you're a salesperson, this is not a good scenario. Zirgan is not exactly what we call a blockbuster drug.

5) Time and Cost. Figuring that Bayer patented the plasmin technology in 2003-04 and B+L is still tinkering with the molecule in 2011...approximately 8 years will have expired on the patent life leaving you somewhere with 10 years left to turn a profit. This can mean a few things in the marketplace: #1: The cost is going to be high to make up for lost time, #2) High cost will exclude this drug from many formularies, #3) The demand may be low for an unproven and novel new product that may only offer small benefits in an even smaller marketplace. The cost versus benefit for the patient may be a deciding factor for many would-be prescribers, #4) Given B+L's past push of Besi and Zirgan on the reps you can expect more unrealistic goals and even more turnover

In short, Plasmin may not be anything to herald. It may be something to fear.
 












The word tinker is a good one. D&R tinkers with these products that will never go to market or make any money. The D&R people build their skills and resumes in the process. B+L gets nothing out of the tinkering because they let D&R BS them into thinking they were working on something worthwhile.
 
























Bottom line is that this thing won't be cheap and will in no way replace any of the inexpensive therapeutic modalities (steroids, etc.) that are in current use. This is probably going to be a molecular version of the retisert fiasco both in indication, cost, and real usage.
 






Has plasmin been approved by the FDA? How close to sale in the marketplace. If it is in the two to five year range forget it. B+L will be sold way before then.

You could give the plasmin song and dance to a potential buyer. It is doubtful that they are dumb enough to fall for this as they will do outside due diligence and calculate the market sales potential. Chances are it does not even work.
 




































Having a R&D department is like a man having tools. It doesn't mean that they can make or fix anything but it makes them feel good knowing that they have tools laying around.
 












Bausch is a lean, nimble, deal making, high growth company. The future has never been brighter for myself and Kathy and all my dedicated soldiers that I brought from Novartis to B+L.

Perry
 






They've been hyping that product since I joined that company in 2007. At least now it has a name. It's a dog with fleas... will never be a blockbuster drug. Will not be used post op in place of a steroid. No new drug will be dosed like water for dry eye without a lot of research backing it, which B&L won't spend. Bottom line, drug will never gain a significant market share before going generic.