Five-year-old Cypros Pharmaceuticals of Carlsbad, USA, has developed adual business strategy which promises to provide near-term revenues to fund operations, a well as build long-term shareholder value with the development of novel, in-house products.
In an interview with the Marketletter, Cypros chief executive Paul Marangos explained that this strategy consists of acquiring products which are already on the market or in late-stage development which still have potential to generate revenues given the correct marketing impetus. The revenues generated from these sales are then used to fund the development of products for the acute care hospital market, a focused sector which can be addressed with a modest-sized sales force (currently nine of a total of 38 people in the firm).
Near-Term Strategy Cypros' current product portfolio, which is firmly targeted at the hospital market, includes two diagnostics, Glofil and Inulin, which are used in the evaluation of kidney function, and are the only two US-approved products to assess glomerular filtration rate. These were supplemented in November 1996 with the acquisition of a sclerosing agent, Ethamolin, which typifies the sort of opportunity which Cypros is looking for. Ethamolin is used to stop bleeding of esophageal varices, by sclerosing the veins which are extruding into the esophagus from the liver.
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