Nicox making progress on divesting commercial business

Talks to divest the European commercial business to focus on the pipeline are making good progress, said French drugmaker Nicox (Euronext Paris: COX), along with presenting its 2015 financials today.

“Revenues from our European commercial operations continued to grow throughout 2015. We ended the year with 30 million euros [$33.1 million] in cash and are entering 2016 with strong sales momentum,” commented Michele Garufi, chairman and chief executive of Nicox.

He continued: “We continue to see strong interest from potential partners in our European commercial business, and we are in active discussions with several parties that we believe could ensure the future growth and success of the business. Regarding our R&D pipeline, we are anticipating two potential product approvals this year, for latanoprostene bunod, which is licensed to Bausch + Lomb, and also for our proprietary cetirizine eye drop, AC-170, if a Priority Review is granted. We are also making significant progress with the advancement of our internal pipeline candidates.”