Avexa ructions

May 11, 2010

AUSTRALIAN drug development company Avexa has dropped its HIV program after it failed to secure a manufacturer to market its apricitabine antiviral therapy for the treatment of drug resistant HIV. CEO Julian Chick has also advised that he will assume responsibility for apricitabine’s commercial failure by stepping down from his position from the end of this month. Avexa’s shares have plummeted by 75% to just three cents. The company has appointed a corporate advisory firm to conduct a strategic review “with the primary focus of uncovering a transaction that will be value accretive for our shareholders,” said chairman Nathan Drona.

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Pharmacy Daily | Avexa ructions

Avexa ructions

Other recent headlines

PSA’s new Tassie leader

Elevating pharmacists

Concern over compo reforms

SEARCH PHARMACY DAILY

Featured video

Recent issues

INDUSTRY JOB VACANCIES