Company Over View
The core management team is comprised of individuals from Adams Respiratory Therapeutics, a highly successful specialty pharmaceutical company recently purchased by Reckitt Benckiser for $2.3 billion dollars. We have significant, recent experience in the cough category with Mucinex®. Like Adams, we are focused on OTC and prescription cough products.
According to the CDC, cough is the most common reason for patients to visit their doctor. Each year there are about 26 million office visits for a complaint of cough and these visits lead to 27 million cough prescriptions per year. Surprisingly, for a market this large, there have been no new products introduced into the Rx cough market in over 20 years.
Our goal on the prescription side is to develop two Rx cough products in three years through 505(b)(2) NDAs. We have written confirmation from FDA that these products can be approved with pharmacokinetic (PK) trials that require only blood level measurements with no clinical trials and no safety or pre-clinical trials required.
| Our forecast calls for Year 3 sales of $150M for the two products which can be marketed with a small sales force to high prescriber doctors. An IRR of 70% is projected on total development costs of $15M and a launch budget of $12M. |
On the OTC side, our most significant opportunity is an Rx-to-OTC switch product. We have developed several patent applications around this switch opportunity and believe these will give the product a long period of exclusivity as an OTC.
Our forecasts call for sales in the range of $200-300M so the product has significant potential. Based on our analysis, our improvements to the product will remove any hurdles that may have existed previously that prevented the product from being switched to OTC status.
Our second OTC product is a 12 hour tablet cough product using an OTC monograph ingredient. This product would be protected by our REATM technology patents so would likely have a long run of exclusivity, as well.
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