Pipeline Progresses at ViroPharma - Analyst Blog
April 23 2013 - 1:50PM
Zacks
ViroPharma
Incorporated (VPHM) recently announced results from a
phase II study of its candidate VP20621 (non-toxigenic Clostridium
difficile), which is being developed to prevent recurrent C.
difficile infections (CDI), a gastrointestinal infection.
The study (n=168) was conducted
over 14 days wherein VP20621 was administered orally in adults
previously treated for C. difficile- associated diarrhea
(CDAD) with oral vancomycin or metronidazole. The
patients were given either placebo or VP20621 after they completed
their antibiotic treatment to evaluate the tolerability of the
latter.
Results from the study revealed
statistically significant reductions in CDI recurrence in patients
treated with VP20621 compared to those in the placebo arm. We note
that at its inv day in Sep 2012, the company had designated VP20621
as a non-core asset. However, encouraged by the data, ViroPharma
plans to seek a partner for the further development and subsequent
commercialization of the candidate. We note that ViroPharma already
has an approved drug, Vancocin indicated for the treatment of
CDAD.
Hence, ViroPharma plans to complete
the evaluation of the phase II data to determine the pathway for
future development.
Nevertheless, ViroPharma also has
maribavir in its pipeline, which is being developed for the
treatment of cytomegalovirus (CMV) infections in transplant
recipients. Other candidates include VP20629, which is being
developed for the treatment of Friedreich's Ataxia.
Meanwhile, the growth story for
ViroPharma revolves around Cinryze, which is approved in the US for
routine prophylaxis against angioedema attacks in adolescent and
adult patients with hereditary angioedema (HAE). Cinryze accounted
for 76% of total sales in 2012.
Although we are positive on the
growth prospects of Cinrzye, we are concerned about the company’s
increasing dependence on the same going forward.
ViroPharma currently carries a
Zacks Rank #2 (Buy). Pharma stocks, which currently look more
attractive, include Vertex Pharmaceuticals
Incorporated (VRTX), UCB SA (UCBJF) and
Alnylam Pharmaceuticals (ALNY). All three carry a
Zacks Rank #1 (Strong Buy).
ALNYLAM PHARMA (ALNY): Free Stock Analysis Report
UCB SA (UCBJF): Get Free Report
VIROPHARMA (VPHM): Free Stock Analysis Report
VERTEX PHARM (VRTX): Free Stock Analysis Report
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