Vernalis plc

Vernalis plc was a UK-based pharmaceuticals business headquartered in Winnersh, with research in Cambridge, and with a Berwyn, PA, US-based commercial operation, Vernalis Therapeutics Inc., focusing on the sales and marketing of slow-release formulations of prescription cough and cold medicines. Tuzistra XR (codeine polistirex/ chlorpheniramine polistirex) was the first launched product which arose from this strategy,^[1] however sales did not reach expectations.^[2] As a result, the strategy was abandoned and the company was put up for sale.^[3] Vernalis plc was listed on AIM until its acquisition by Ligand Holdings (UK) Ltd, a subsidiary of Ligand Pharmaceuticals, Inc. (NASDAQ:LGND) on 10 October 2018.^[4]

Vernalis plc

Company type	Public
Industry	Pharmaceuticals
Predecessor	British Biotech, Vernalis Group
Founded	2003
Defunct	2018
Fate	Acquired
Successor	Vernalis Research
Headquarters	Winnersh, UK
Key people	Chairman: Peter Fellner (2003-2018), CEO Simon J. Sturge (2003-2008), Ian R. Garland (2008-2018)

Vernalis plc (formerly known as British Biotech plc prior to 1 October 2003), arose from two company mergers.^[5] The first merger, with the privately held Cambridge-based RiboTargets Holdings plc, was completed in April 2003, and brought a structure-based drug discovery capability focused on novel cancer targets.^[6] The second merger, with Vernalis Group, was completed in September 2003 and brought a marketed product, frovatriptan, a clinical portfolio and drug discovery programmes focused on CNS disorders.^[7]

Its successful Cambridge, UK-based research facility, with expertise in fragment and structure-based drug discovery, continues as Vernalis Research. The company is engaged in research collaborations with pharmaceuticals industry partners, and maintains a pipeline of commercially partnered and non-partnered drug candidates in pre-clinical and clinical development.

References

1. "Twice-daily cough syrup Tuzistra XR launched in the US". European Pharmaceutical Review. Retrieved 31 May 2019.
2. "Vernalis reports 'slower than hoped for' sales of its cough and cold drug Tuzistra XR". Proactiveinvestors UK. 28 February 2018. Retrieved 31 May 2019.
3. Boxall, Megan (16 March 2018). "Vernalis puts itself up for sale". www.investorschronicle.co.uk. Retrieved 31 May 2019.
4. "Recommended Cash Offer for Vernalis plc - RNS - London Stock Exchange". www.londonstockexchange.com. Retrieved 31 May 2019.
5. Correspondent, Rosie Murray-West, City (3 July 2003). "British Biotech reborn as Vernalis". ISSN 0307-1235. Retrieved 31 May 2019. {{cite news}}: |last= has generic name (help)CS1 maint: multiple names: authors list (link)
6. Mills, Lauren (19 January 2003). "British Biotech sets sights on RiboTargets". ISSN 0307-1235. Retrieved 31 May 2019.
7. Correspondent, By Mark Court, Health Industries (4 July 2003). "British Biotech to take over Vernalis". The Times. ISSN 0140-0460. Retrieved 31 May 2019. {{cite news}}: |last= has generic name (help)CS1 maint: multiple names: authors list (link)