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12:00 AM
Mar 12, 2007
 |  BioCentury  |  Finance

Tercica KOs Insmed

Tercica KOs Insmed

The fortunes of Tercica (TRCA) and Insmed (INSM) have been linked for several years, as both developed IGF-1-based products for the same indication. Last week, TRCA won its battle for control of the market to treat primary IGF-1 deficiency by reaching a litigation settlement that requires INSM to withdraw its iPlex mecasermin rinfibate from the U.S. market for short stature indications and withdraw its application for severe primary IGFD in the EU. INSM subsequently restructured. It had a $33 million operating loss in the first three quarters of last year and $35 million in cash at Sept. 30. INSM fell $0.73 (46%) to $0.84 on the news, while TRCA climbed $0.92 (19%) to $5.68. Weekly stock prices for INSM and TRCA tracked against selected product-related events since mid-2004. The initial index...

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