Actavis plc (NYSE:ACT) is on track with maintaining its promise to Allergan, Inc. (NYSE:AGN) through the upcoming introduction of phase III trials for abicipar. The drug is licensed by Sweden-based Molecular Partners.
The drug is the first of the projects that have a direct influence on the $66 million merger. Ambicipar is a promising drug whose sole purpose is to target age-influenced macular edema. The drug works by restricting VEGF. Allergan licensed the drug from Molecular Partners back in 2011, holding in faith that the company’s technology could revolutionize aspects for future treatments.
Part of the reason Allergan had so much faith in the drug is because it offered effectiveness similar to that of existing antibody therapies. However, the advantage lies in the fact that the drug did not have any toxic risks. It was easier to manufacture, and its production costs were better compared to the others in comparison.
It its long interaction with Allergan, Actavis took an oath to push the Abicipar drug program forward. By the end of the first quarter, the firm revealed its initial earnings on the project. It even went ahead to renew its commitment to the pledge by affirming that it will initiate phase III trials either by the end of the second quarter or by the beginning of the third one.
The drug research institute plans on identifying whether the eye treatment drug can be used to treat wet AMD without the need for any if not all of the many injections required. If the trials are successful, the drug will be preferred over other treatments.
Molecular Partners is has a lot of faith in the technology incorporated in the drug manufacture process as well as the research and development involved by the two collaborating firms. The company’s COO, Patrick Amstutz announced in a statement that his company is pleased with the commitment levels that Actavis is bringing onto the table. He was also thankful for the Actavis plc (NYSE:ACT) team for prioritizing the development of Abicipar.