Cosmo's Rifamycin meets target in diarrhoea trial
ZURICH, July 4 (Reuters) - Italy's Cosmo Pharmaceuticals (COPN.S) said on Wednesday a mid- to late-stage trial of its Rifamycin drug in infectious diarrhoea had met its primary objective, boosting the biotech company's shares.
According to preliminary data, the broad-spectrum antibiotic Rifamycin reached its primary objective in time from first ingestion of the tablet to the last unformed stool, Cosmo said in a statement.
"We believe these positive data could now enable the product to be partnered in Europe and filed in selected European countries," Lehman Brothers said in a note. "In addition, Cosmo will now likely commence a Phase III study for U.S. regulatory filing."
Shares in Milan-based Cosmo, which listed on the Zurich exchange earlier this year, were some 3 percent higher at 29.90 Swiss francs by 0805 GMT.
The Phase II/III trial assessed non-inferiority to the antibiotic rifaximin.
Lehman Brothers forecasts peak sales of $120 million by 2013 and said Cosmo may be able to file for approval in some European countries -- Italy, Spain, Portugal, Greece and Germany -- before the end of this year.
((Reporting by Sam Cage, editing by Greg Mahlich; e-mail: zurich.newsroom@reuters.com; Reuters Messaging: sam.cage.reuters.com@reuters.net; telephone: +41 (0) 44 631 7457)) Keywords: COSMO RIFAMYCIN/
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