Tuesday, January 4, 2000
Through a flurry of deals at year end, Interneuron Pharmaceuticals Inc. is working to rehabilitate its original business model of in-licensing
products, adding value through clinical trials and regulatory milestones and
then out-licensing the products to new partners.
However, the company has yet to demonstrate that the model
works. Partner Wyeth-Ayerst withdrew IPIC's first product, Redux dexfenfluramine
to treat obesity, from the market in 1997 due to allegations about possible
side effects. And IPIC withdrew an NDA for CerAxon citicoline in 1998 after
a third Phase III trial in stroke failed to achieve statistical significance.
As a result, IPIC's stock had