Sepracor Pulls Plug On Marketing Drug In Europe
Marlborough-based Sepracor has officially ended plans to bring its sleep aid Lunesta to Europe.
The drug maker has withdrawn its application to market Lunesta under the new brand name Lunivia in the European Union.
Lunivia is a sleep aid. Sepracor disclosed the application withdrawal in a filing with the Securities and Exchange Commission dated May 13.
The disclosure comes just a few weeks after the European Medicines Agency (EMEA) recommended granting marketing authorization for Lunivia without designating the drug as a "new active substance."
Sepracor had co-applied to the EMEA along with GlaxoSmithKline for the approval. The two companies have dissolved their agreement to jointly sell the drug.
On May 8, the company reported $330.2 million in revenue for the first quarter, a 3 percent increase over the same period a year earlier. Its profit more than quadrupled from $7.1 million to $35.2 million.
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