 | |
| Company type | Public |
|---|---|
| Industry | Pharmaceuticals |
| Predecessor | British Biotech, Vernalis Group |
| Founded | 2003 |
| Defunct | 2018 |
| Fate | Acquired |
| Successor | Vernalis Research |
| Headquarters | Winnersh, UK |
Key people | Chairman: Peter Fellner (2003-2018), CEO Simon J. Sturge (2003-2008), Ian R. Garland (2008-2018) |
Vernalis plc was a UK-based pharmaceuticals business headquartered in Winnersh, with research in Cambridge, and with a Berwyn, PA, US-based commercial operation, Vernalis Therapeutics Inc., focusing on the sales and marketing of slow-release formulations of prescription cough and cold medicines. Tuzistra XR (codeine polistirex/ chlorpheniramine polistirex) was the first launched product which arose from this strategy,[1] however sales did not reach expectations.[2] As a result, the strategy was abandoned and the company was put up for sale.[3] Vernalis plc was listed on AIM until its acquisition by Ligand Holdings (UK) Ltd, a subsidiary of Ligand Pharmaceuticals, Inc. (NASDAQ:LGND) on 10 October 2018.[4]
Vernalis plc (formerly known as British Biotech plc prior to 1 October 2003), arose from two company mergers.[5] The first merger, with the privately held Cambridge-based RiboTargets Holdings plc, was completed in April 2003, and brought a structure-based drug discovery capability focused on novel cancer targets.[6] The second merger, with Vernalis Group, was completed in September 2003 and brought a marketed product, frovatriptan, a clinical portfolio and drug discovery programmes focused on CNS disorders.[7]
Its successful Cambridge, UK-based research facility, with expertise in fragment and structure-based drug discovery, continues as Vernalis Research. The company is engaged in research collaborations with pharmaceuticals industry partners, and maintains a pipeline of commercially partnered and non-partnered drug candidates in pre-clinical and clinical development.
References[edit]
- ^ "Twice-daily cough syrup Tuzistra XR launched in the US". European Pharmaceutical Review. Retrieved 31 May 2019.
- ^ "Vernalis reports 'slower than hoped for' sales of its cough and cold drug Tuzistra XR". Proactiveinvestors UK. 28 February 2018. Retrieved 31 May 2019.
- ^ Boxall, Megan (16 March 2018). "Vernalis puts itself up for sale". www.investorschronicle.co.uk. Retrieved 31 May 2019.
- ^ "Recommended Cash Offer for Vernalis plc - RNS - London Stock Exchange". www.londonstockexchange.com. Retrieved 31 May 2019.
- ^ Correspondent, Rosie Murray-West, City (3 July 2003). "British Biotech reborn as Vernalis". ISSN 0307-1235. Retrieved 31 May 2019.
{{cite news}}: CS1 maint: multiple names: authors list (link) - ^ Mills, Lauren (19 January 2003). "British Biotech sets sights on RiboTargets". ISSN 0307-1235. Retrieved 31 May 2019.
- ^ Correspondent, By Mark Court, Health Industries (4 July 2003). "British Biotech to take over Vernalis". The Times. ISSN 0140-0460. Retrieved 31 May 2019.
{{cite news}}: CS1 maint: multiple names: authors list (link)