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Vernalis Seeks Buyers, CEO To Step Down, As US Commercial Strategy Disappoints

 
• By John Davis

Disappointing sales growth of its prescription extended-release cough-and-cold product has led Vernalis to decide to close down its US commercial operations, and to seek a buyer for the whole company.  

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• Source: Shutterstock

It seemed a bold strategy, when first announced in 2012, to refocus a UK biotech on selling novel prescription cough-and-cold products in the US, but Vernalis PLC's lower-than-expected sales of its lead marketed product has led to failure of the approach, and the company's board deciding to seek a buyer.

Ian Garland, the company's CEO and a strong advocate of the US-orientated commercial strategy, will step down as CEO and...

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