Warner Chilcott gets 5th FDA drug approval this year
Steve’s breakdown: This is the second contraceptive FDA approval we’ve reported. In April we reported: Warner Chilcott gets FDA for Minastrin 24 FE.
Now here’s another one and BTW, they had 3 more earlier this year. If you haven’t gotten into this company yet, let’s go!
ROCKAWAY, NJ: Warner Chilcott PLC (WCRX) obtained U.S. Food and Drug Administration approval of the oral contraceptive LO Minastrin FE, the pharmaceutical company’s fifth FDA-approved product so far this year.
The company said it is currently developing commercial launch plans for the chewable tablets.
The FDA in April approved Warner Chilcott’s Minastrin 24 FE oral contraceptive, but the company said it didn’t expect to be in a position to commercially launch Minastrin 24 FE this year. The capsules are manufactured by a third party.
Warner Chilcott, a maker of prescription health-care and dermatology products for women, has seen declining revenue for more than a year amid sagging sales of Actonel. The osteoporosis treatment lost exclusivity in Europe and now faces increased generic competition in the U.S.
The company on Wednesday reported its second-quarter profit more than doubled from year-earlier results, which were stung by a steep impairment charge, while revenue slid 3.9%.
Shares closed Wednesday at $20.08 and were inactive premarket. The stock is up 67% since the start of the year.