Web Date: July 19, 2007
Encysive For Sale
Encysive Pharmaceuticals has enlisted investment bank Morgan Stanley to help find a suitor after a series of setbacks for its lead product candidate.
Last month, FDA issued a third "approvable" letter for Thelin, the Houston-based biotech firm???s drug for high blood pressure in the pulmonary artery. The agency asked for more evidence of the drug's efficacy, further delaying its launch in the U.S.
Encysive subsequently slashed its workforce by about 70% to 65 people to focus its remaining resources on getting Thelin to market in the U.S. This latest announcement from Encysive comes as Gilead Sciences prepares to launch its competing drug for pulmonary arterial hypertension, Letairis.
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