Pharmaxis Announces Delay to French Pricing for Bronchitol
Pharmaxis press release link here.
Pharmaceutical company Pharmaxis (ASX:PXS) today announced it will scale back resources and investments dedicated to the launch of Bronchitol in France due to delays in reaching an agreement with French authorities on a reimbursed price for the cystic fibrosis treatment. Pharmaxis CEO Mr Gary Phillips said, “Negotiations with the French Healthcare Products Pricing Committee (CEPS) have been protracted and, given the current economic climate and prevailing healthcare policy in France, I do not believe we are yet close to agreement on an acceptable price for Bronchitol. France has an adult cystic fibrosis population of approximately 3,000 patients and it is very disappointing not to be able to secure timely reimbursement. Our pricing has already proved acceptable to some of the world’s most rigorous reimbursement authorities in the UK (NICE) and Australia (PBAC) and I remain optimistic that we will eventually reach agreement in France.” Mr Phillips added, “In order to protect our short term cash position, personnel and contractors working on Bronchitol in France will be reduced from six to one by the end of September and other French marketing investments will be significantly scaled back. Marketing resources will be focused on increasing growth of Bronchitol sales in the launched markets of Germany, UK, Denmark and Australia whilst gaining access to new European markets.”
SOURCE: Pharmaxis Ltd, Sydney, Australia
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