Merrion Pharmaceuticals Receives 2008 Frost & Sullivan Osteoporosis Technology Innovation of the Year Award
05/11/2008
DUBLIN, Ireland, Nov 5, 2008 an international specialty pharmaceutical company, today announced that it has been awarded the Frost & Sullivan 2008 Osteoporosis Technology Innovation of the Year Award for its Almerol (formerly known as MER-103) product. This award was given in recognition of Merrion's successful application of its innovative GIPET(r) technology that creates a substantially improved version of alendronate, Almerol (MER-103). This new version yields such benefits as increased bioavailability while offering the potential for increased safety and convenience, as compared to that of currently marketed Alendronate products such as Fosamax(r). "Merrion Pharmaceutical's GIPET(r) technology has led to the development of an innovative new product, MER-103 (Almerol), for the treatment of osteoporosis," explains Katheryn Symank, Research Analyst at Frost & Sullivan. "MER-103 (Almerol) has drug benefits including improved bioavailability, a more attractive safety profile, and a simplified dosing regimen, compared to that of the currently marketed formulation. These factors are important in improving drug development in the osteoporosis area. In recognition of these achievements in technology application and innovation, Frost & Sullivan is proud to present the 2008 Osteoporosis Technology Innovation of the Year Award to Merrion Pharmaceuticals."With an estimated 11.2 million Americans having osteoporosis and an additional 46.4 million affected by osteopenia, the importance of new osteoporosis treatment options is more apparent," continues Symank. "As a way to improve the bioavailability of oral products, Merrion has developed a
cutting-edge technology called gastrointestinal permeation enhancement technology (GIPET(r)), which can improve a poorly permeable oral medication's bioavailability. Not only does this allow for less of the active ingredient to be used to achieve the same therapeutic benefit, but it also can allow for more convenient dosing schedules." The recommended dosage for the currently marketed drug, alendronate, is one pill taken with a full glass of water 30 minutes to one hour before any food. In addition, the patient is advised not to lie down for at least 30 minutes after taking their medication. As a result of its complicated dosing regimen and associated side effects, patient compliance with alendronate is currently poor. "Using its GIPET(r) technology, Merrion has created MER-103 (Almerol), a novel formulation of alendronate. This has resulted in MER-103 (Almerol) having a simplified dosing regimen and none of the gastrointestinal side effects found in Fosamax. Furthermore, MER-103 (Almerol) has an increase in bioavailability of 15-fold when taken at night, or 12-fold when taken after an overnight fast. This improvement allows for less alendronate to be used in the medication," adds Symank. "To be honoured with the 2008 Frost & Sullivan Osteoporosis Technology Innovation Award demonstrates the innovative ability of our GIPET(r) technology to develop significant new products, which greatly assists patients, while having great commercial potential also. This award marks another milestone for Merrion and for the GIPET(r) technology which has the potential to be used in many important drug innovations," says John Lynch, CEO of Merrion
Pharmaceuticals. "Compliance with bisphosphonate therapy is a big issue, and we hope that Almerol will offer patients a simplified dosing regimen and improved side effects profile combined with the current gold standard drug for osteoporosis," adds Mr. Lynch. Prof. Michael Donnelly, Chairman of Growcorp Group Limited the Investment Fund which founded Merrion Pharmaceuticals in 2003 and then hired the key management added "this is a further vindication of the Growcorp Investment strategy, we are very excited about the next few years and expect Merrion will continue to deliver excellent returns to our investors"
Award Description
The Frost & Sullivan Award for Technology Innovation of the Year is presented to the company that has demonstrated technological innovation within its industry. This Award recognizes the ability of the company to successfully develop and introduce new/disruptive technology, formulate a well-designed product family, and make significant technology contributions to the industry.
