Ferring Pharma’s Cortiment gains EU approval

Privately-held Switzerland-headquartered Ferring Pharmaceuticals says its Cortiment (budesonide) treatment for the induction of remission in patients with active, mild to moderate ulcerative colitis has received marketing approval from 27 European Union member states following the EU Mutual Recognition Procedure.

Cortiment has been commercially available in the Netherlands since November 2013. Ferring plans to begin launching the product in the 27 additional European countries in the coming months.

Cortiment has been developed by Italy’s Cosmo Pharmaceuticals (SIX: COPN). Ferring is the licensee in the EU and Asia (excluding Japan), Australia, Canada, Latin America and Africa. In the USA, where the product is available as Uceris, the licensee is Salix Pharmaceuticals. The latter had been involved in a planned tax inversion acquisition of an Ireland-based subsidiary of Cosmo, but this was  recently terminated.