Israeli drug developer Bio-Technology General (Nasdaq: BTGC) today announced the launch of a new lower dosage for its Oxandrin tablet, which treats involuntary weight loss. The new 10mg tablet strength is expected to improve patient compliance and drive market share growth, the company says.
The new tablet strength is designed to allow patients taking 20mg of Oxandrin a day, the most common dosage, to convert from eight 2.5 mg tablets to one 10mg tablet twice daily.
Bio-Technology General chairman and CEO Sim Fass said, "The introduction of our 10mg Oxandrin tablet coincides with a new marketing thrust and focus on those therapeutic sectors where we can offer a competitive alternative to other less effective or more expensive products currently used to combat involuntary weight loss. These sectors include patients with cancer, chronic obstructive pulmonary disease, trauma, and non-healing wounds."
Fass noted the 10mg Oxandrin tablet would be sold directly to wholesalers, thereby reducing the company's distribution cost.
Since introducing the product in December 1995, the company has seen sales of Oxandrin grow to over $47 million in 2001. According to Bio-Technology General, sales of the drug have recently been driven by several new initiatives, such as an expansion of its sales force this year and the long-term care partnership with Abbott Laboratories two years ago.
Oxandrin is the only oral anabolic agent approved by the FDA as adjunctive therapy to promote weight gain after weight loss following extensive surgery, chronic infections, or severe trauma, and in some patients who without definite pathophysiologic reasons fail to gain or to maintain normal weight. Oxandrin is now available in both 2.5mg and 10mg strengths.
Bio-Technology General shares were up 3% at $2.74 in mid morning trade on Nasdaq on Tuesday.
Published by Globes [online] - www.globes.co.il - on 22 October, 2002