ARTICLE | Company News

Cypress, Forest Laboratories musculoskeletal, neurology news

August 9, 2010 7:00 AM UTC

Cypress will restructure and reduce headcount by 123 (86%) to 20 after it discontinued co-promotion of fibromyalgia drug Savella milnacipran in the U.S. with partner Forest. The cuts come from the company's commercial business. Cypress, which remains eligible for royalties on Savella, said it "may pursue the opportunity to re-activate the co-promotion right." Cypress will receive a one-time payment from Forest of $2 million. Forest reported $53 million in U.S. sales of Savella in the fiscal year ending March 31.

Cypress licensed U.S. and Canadian rights to the norepinephrine and serotonin reuptake inhibitor (NSRI) from Laboratoires Pierre Fabre S.A. (Castres, France) in 2001. Cypress then partnered with Forest to develop and commercialize Savella in 2004 (see BioCentury, Jan. 19, 2009 & April 27, 2009). ...