Nastech developed Nascobal nasal spray (Cyanocobalamin, USP) as an alternative to Nascobal gel for intranasal administration, an FDA approved product launched in 1997. Worldwide marketing rights to both products were sold to Questcor Pharmaceuticals in June 2003 and FDA approval of the product triggers a $2 million milestone payment from Questcor to Nastech.
Nastech will manufacture the product line for both Nascobal nasal gel and Nascobal nasal spray under a long-term manufacturing agreement with Questcor.
“We are pleased by the rapid FDA approval of Nascobal Nasal Spray,” said Dr Gordon Brandt, executive vice president of clinical research and medical affairs at Nastech.
Brandt added, “It also allows us to increase our focus on our other programs, including supporting Merck in their rapid development of PYY for obesity, supporting Par as we seek FDA approval for calcitonin for osteoporosis, advancing PTH for osteoporosis, and moving forward aggressively our three externally-funded collaboration programs in Alzheimer’s disease, type 2 diabetes, and obesity.”