Lexicon gains first drug approval

FDA approved Xermelo telotristat ethyl from Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) to treat carcinoid syndrome diarrhea in combination with somatostatin analog (SSA) therapy in adults inadequately controlled on SSAs. The approval is the first for Lexicon, which was established in 1995 as a genomics play.

Lexicon said it will launch the tryptophan hydroxylase 1 (TPH1; TPH) inhibitor through select specialty pharmacies on March 6. On a conference call, Chief Commercial Officer Alex Santini said Xermelo will be priced at a wholesale acquisition cost (WAC) of $5,164 per 28 days of therapy, which the company said reflected “parity” with Sandostatin LAR Depot octreotide acetate from Novartis AG (NYSE:NVS; SIX:NOVN)...