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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