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.The above article was sent to subscribers in Pharmacy Daily's issue from 11 May 10 To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 11 May 10
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WESFARMERS has today reported strong growth in revenue across its Health division and its Australian Pharmaceutical Industries (API) subsidiary, despite a significant reduction in COVID-19 anti-viral product sales.
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