Child drug boosts Celltech

April 4, 2001
Web posted at: 1257 GMT

LONDON (CNN) -- Celltech received U.S. approval for a drug to treat hyperactive children, boosting profit prospects, the UK's No.1 biotech company has said.

The drug Metadate when taken once a day prevents school-age children from disrupting classes and their own education, Celltech said on Wednesay. More than 300 children aged between six and 15 took part in clinical trials.

Metadate passed clinical trials in the treatment of so-called attention deficit hyperactivity disorder (ADHD) that affects about 3 percent to 5 percent of school-age children, Celltech said.

The drug will be launched in Europe in late 2001 and in the middle of the year in the U.S. following the U.S. Food and Drug Administration's decision to allow its sale.

"For school-age children, a morning dose of Metadate effectively controls inattentiveness, disruptive behaviour and other symptoms of ADHD during the school day when the need for control is greatest," said Laurence Greenhill, a psychiatrist at New York State Psychiatric Institute, in a company statement announcing the approval.

The Slough, southern England-based company said last month that approval of the drug should lift 2001 sales growth by 10 percent from the 2000 figure of £211 million pounds ($298 million)

Celltech has grown rapidly in stature in the last two years with the acquisition of rivals Medeva and Chiroscience.

Last month, Celltech clinched the biggest ever deal for a European biotech company - worth up to $280 million - when it signed up Pharmacia (PHA: Research, Estimates) as a partner for its potential blockbuster arthritis drug, CDP 870.

Celltech (CCH) shares rose 1.6 percent in London on Wednesday to 1,133 pence.

Celltech’s healthy profit – March 14, 2001

Celltech

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