Cipher pursuing new products and out-licensing

Cipher Pharmaceuticals (TSX: DND) is actively pursuing out-licensing agreements for its current products in other territories and is also seeking products in development or approved for the Canadian market to complement its Canadian commercialization plans for CIP-Isotretinoin, a patented formulation of the acne medication isotretinoin.

The company made the disclosure in its financial results for 2011, which saw royalty revenue from its Lipofen fenofibrate product climb 8% over 2010. Cipher ended 2011 with no debt and cash of $9.6 million, up from $9.2 million at the end of the third quarter last year.

CIP-Isotretinoin has a PDUFA date of this May 29 from the FDA

Once CIP-Isotretinoin is launched in the U.S. by marketing partner, Ranbaxy Pharmaceuticals, Cipher said that it “expects that future revenue from this product has the potential to significantly exceed the revenue generated from the company’s other current products.” Pre-commercial manufacturing planning is also underway for a possible U.S. launch in the fourth quarter this year.

Cipher also expects a marketing decision from Health Canada in the first quarter of 2013 and, if approved, the company plans to market the acne treatment in Canada through its own specialty sales team.

“It was a successful year for Cipher with multiple commercial and regulatory milestones, highlighted by two marketing agreements for our once-daily tramadol, the launch of ConZip in the U.S. market, and completion of the comprehensive Phase 3 study of our high-potential acne product,” CEO Larry Andrews said in a statement.

“With growing revenues from our two commercial products and an upcoming PDUFA date in May for CIP-Isotretinoin, 2012 is shaping up to be an eventful and exciting year for the company,” he added.