Indevus anti-HIV product gets study boost

By Julie Donnelly (Boston Business Journal) 9 February 2009: The National Institutes of Health has finished a study that found that women who received a vaginal microbial gel called PRO 200, made by Indevus, were 30 percent less likely to contract HIV than women who did not receive the gel.

http://www.bizjournals.com/boston/stories/2009/02/09/daily5.html

This is the first trial to suggest that any microbicide may prevent male-to-female transmission of HIV, according to Lexington-based Indevus. The study included 3,100 women and was conducted at seven clinical centers in Malawi, Zimbabwe, South Africa, Zambia and the U.S.. The women in the study were also given access to free condoms and safer-sex information. A second study, involving 10,000 women, is expected to be completed later this year.

“We are extremely excited with the results of this trial”, Indevus CEO Glenn Cooper said in a statement. “Though not conclusive, these results provide encouragement that PRO 2000 may offer a female-controlled method that can be used to protect against the sexual transmission of HIV.”

Indevus is a pharmaceutical company specializing in products to treat conditions in urology and endocrinology. The company currently has five products on the market, including drugs for overactive bladder and prostate cancer.

Indevus stock was trading at $5.32 in late morning trading on Monday, one penny lower than the company’s close on the previous day. Indevus’ stock has traded between $1.19 and $6.56 over the past year.

The company recently released earnings for the 1st quarter of their fiscal year, ending Dec. 31. Indevus reported a net loss of $7.6 million on revenue of $26.4 million compared with a loss of $14.7 million on revenue of $16.4 million for the same period the previous year.