Citius Pharma discontinues obesity drug Suprenza to focus on core assets

US specialty pharma company Citius Pharmaceuticals (OTC BB: CTXR) revealed today it was discontinuing Suprenza, its FDA-approved phentermine-based product for weight loss. The news pushed Citius’ shares 4.49% lower to $0.85 on Friday.

Myron Holubiak, chief executive of Citius, said: "Suprenza no longer meets our core strategic objectives.  We are dedicating our focus on our Phase III asset Mino-Lok and our Phase IIb asset Hydro-Lido for hemorrhoids."

Mr Holubiak continued: "We feel that the obesity and weight management market has shifted and therefore we are devoting our efforts on developing our leading two assets. We anticipate a minimal financial impact to Citius from discontinuation since we eliminate our ongoing regulatory expenses and have not historically received royalties from the product."