These restructuring plans, which would include the loss of 63 jobs including the company’s entire dental sales force, follow the FDA approval of generic version of Periostat (doxycycline hyclate) for sale by Ivax Pharmaceuticals and CorePharma
CollaGenex said that its 34-person dermatology sales force will continue to market Pandel, a prescription corticosteroid, prepare for the launch of Oracea and sell other products that the company may co-promote or in-license in the future. The company said that it will also continue to develop its dermatology product pipeline.
In lawsuits filed in October 2004, CollaGenex alleged that Ivax and CorePharma’s submissions of abbreviated new drug applications covering their 20mg tablets of doxycycline hyclate infringe a US patent of which CollaGenex is the exclusive licensee. This litigation is presently ongoing.
Colin Stewart, president and CEO of CollaGenex, said, “While we are clearly disappointed with the generic approval, we remain confident in our ability to build CollaGenex’ dermatology franchise.”