Oxford Pharmascience Climbs on Search for Marketing Partnerby
Oxford Pharmascience Group Plc rose after the company said it’s looking for a partner to market versions of the painkiller ibuprofen and the anti-inflammation pill naproxen that are better tasting and have a milder effect on the digestive tract.
The stock climbed 4.7 percent to 5.63 pence at 9:26 a.m. in London trading, the highest since Dec. 9. The Oxfordshire, England-based company has developed reformulated versions of the two over-the-counter drugs that may give it a share of their $5 billion market by appealing to elderly patients with sensitive stomachs or those with chronic pain, it said in a statement Monday.
Oxford Pharmascience initiated contacts with large pharmaceutical companies last November to market the products, OXPzero Ibuprofen and OXPzero Naproxen, and has now hired consultants and advisers to pursue a deal, according to the statement.