UPDATE 1-Nicox gets boost from strong prospects for glaucoma drug

Thu Sep 25, 2014 4:01am EDT
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* Nicox says drug could reach peak sales of over $1 bln

* Expects to file for approval in the U.S. in mid-2015

* Aims for U.S. launch of the drug in H1 2016

* Shares jump 26 percent (Adds shares, background)

PARIS, Sept 25 (Reuters) - French pharmaceutical firm Nicox unveiled positive Phase III results for its glaucoma drug on Thursday and said, if approved by regulators, the product could reach peak annual sales of over $1 billion worldwide.

Shares in the company shot up as much as 26 percent on the news, giving the company a market capitalisation of around 205 million euros ($261.5 million).

Nicox estimates that the drug, called Vesneo (latanoprostene bunod) and designed to treat glaucoma and ocular hypertension, could reach peak annual sales of around $500 million in the United States alone.

Nicox said last month it would exercise its option to co-promote the drug in the United States alongside Bausch + Lomb, a division of Valeant Pharmaceuticals.

It said Bausch + Lomb expects to request regulatory approval for the drug in the United States in mid-2015 and to launch there in the first half of 2016.   Continued...