The President and CEO of Three Rivers Pharmaceuticals, Donald J. Kerrish, RPh., stated, “The approval of Ribasphere™ marks a milestone in the treatment of HCV. Ribasphere™ is positioned to break down the economic barriers that have existed for the past decade in treating this chronic and potentially deadly disease.” Traditionally the cost of treatment for HCV can range from $20,000 – $25,000 annually. “Our aim is to bring affordable medicine to all individuals infected with this dreadful disease.” Mr. Kerrish continued.
“This victory for the approval of Ribasphere™ did not come without a great deal of pain and persistence on the legal and regulatory fronts” said Paul F. Fagan, Executive Vice President and General Counsel of Three Rivers. The ANDA was filed with the FDA in July of 2001. During the past thirty-three months, Three Rivers has successfully battled multiple patent infringement lawsuits and overcome significant regulatory issues that both delayed and complicated the entry of Ribasphere™ into the marketplace. Both Mr. Kerrish and Mr. Fagan agreed that enduring the long and complex process has been well worth it. They will now be able to see patients benefit from the fruits of the company’s labor.
Hepatitis C affects nearly 4 million Americans and 170 million people worldwide. HCV is responsible for 8,000 to 10,000 deaths per year in the United States and is the number one cause of liver transplants. HCV can also lead to cirrhosis, end-stage liver disease, and liver cancer. Over 30,000 new cases are diagnosed each year.
Three Rivers Pharmaceuticals plans to launch Ribasphere™ immediately, assisted by its marketing partner PAR Pharmaceuticals (NYSE:PRX) of Spring Valley, New York. Three Rivers Pharmaceuticals is a closely held, privately owned company. Three Rivers Pharmaceuticals’ mission is to develop and market generic prescription drugs and select branded drugs that may be less appealing to the larger pharmaceutical companies but still have a very strong clinical value to the patient. Its plan is to focus in the areas of HCV / HIV, urology and oncology.