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Green light for inhaled insulin
Novel methods of delivering drugs have received a boost this month, after pharmaceutical giant Pfizer received regulatory approval for Exubera in both the EU and US. Exubera enables insulin to be inhaled using a novel delivery system developed by Kings Lynn-based medical devices maker Bespak (see page 29). The technology has been hailed as the first major step forward in diabetes treatment for 80 years, since insulin was first injected into patients in 1922. As well as offering the chance to improve greatly the lifestyle of adults who suffer from type 1 and type 2 diabetes, the approval gives hope to investors that real commercial progress will at last be seen in companies developing drug delivery technology. Backers of Skyepharma, a FTSE 250 member which tries to reformulate proven drugs so that they might be inhaled, have already lost patience with the management of the company after a lengthy and frustrating period of development. Founder Ian Gowrie-Smith has been forced to stand down as chairman following shareholder pressure. These investors, led by North Atlantic Value, want him to leave the board after a history of ‘over-promising and under-delivering’. Shareholders have had to stump up cash for a series of fundraisings over the past five years, but have seen little return so far. A more promising prospect might be AIM-quoted Vectura, which is currently carrying out clinical trials on its inhaled treatment for erectile dysfunction. The company is testing respiratory treatments for other ailments, including cystic fibrosis, and has an innovative licensing deal with major drug concern Novartis.
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