Ex­hib­it A in Valeant’s block­buster R&D boast runs in­to trou­ble at the FDA

A cou­ple of years ago, then Valeant CEO Michael Pear­son point­ed to Ves­neo as Ex­hib­it A in the com­pa­ny’s case that it could ex­e­cute an ef­fec­tive late stage study. He con­fi­dent­ly told the world that the glau­co­ma drug was a block­buster in the mak­ing, on track to earn­ing $1 bil­lion-plus af­ter hit­ting the mar­ket in H1 2016.

Pear­son, of course, didn’t sur­vive H1 at the helm of a storm tossed Valeant $VRX. And the best laid plans for Ves­neo will have to wait awhile longer. Valeant not­ed ear­ly this morn­ing that the drug – an eye drop for­mu­la­tion de­signed to low­er in­traoc­u­lar pres­sure for pa­tients with open an­gle glau­co­ma or oc­u­lar hy­per­ten­sion – has been stiff armed at the FDA, which is­sued a com­plete re­sponse let­ter in­stead of an ap­proval.

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