Press release
Lexicon Pharmaceuticals Announces Strategic Repositioning to Drive Value and Growth of Commercial Portfolio
Company to Focus on Targeted Promotion of INPEFA® in Heart Failure While Prioritizing Investment in the Potential Launch of ZYNQUISTA™ Efforts Expected to
About this update from Lexicon Pharmaceuticals, Inc.
[{"type":"text","content":"Company to Focus on Targeted Promotion of INPEFA® in Heart Failure While Prioritizing Investment in the Potential Launch of ZYNQUISTA™ Efforts Expected to Reduce 2025 Operating Costs by $40 Million THE WOODLANDS, Texas, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX), today announced that, following a strategic review of its commercial and pipeline programs, it will refocus resources across the portfolio in support of opportunities where the company believes it can have the greatest impact on patients. As a result, the company will optimize its promotional efforts for INPEFA® (sotagliflozin) in heart failure and reallocate resources to effectively support the potential commercial launch of ZYNQUISTA™ (sotagliflozin) for improvement of glycemic control in adults with type 1 diabetes and chronic kidney disease (CKD). These efforts are designed to create efficiencies in the company's commercial efforts to promote both INPEFA® and ZYNQUISTA™. The company expects these efforts to result in cost savings of approximately $40 million for 2025 while ensuring all R&D programs including the pivotal Phase 3 study of sotagliflozin in hypertophic cardiomyopathy (HCM) and the ongoing Phase 2b dose optimization study of LX9211 in diabetic neuropathic pain are fully funded. “Lexicon entered 2024 with a number of exciting commercial and pipeline opportunities,” said Dr. Mike Exton, chief executive officer and director. “Over the past few weeks, we have been working on a plan to allocate resources across these opportunities, build on the successes of our capable commercial team and focus on where we have the potential to lead and succeed. As a result, we have made the decision to right-size our promotional efforts around INPEFA for heart failure and reallocate resources to prepare for our potential launch of ZYNQUISTA™. We strongly believe in the value INPEFA offers patients, and we will continue to drive growth in heart failure with a targeted approach. We remain committed to the cardiovascular community as we also pursue an additional indication for sotagliflozin in HCM. This renewed approach will allow us to drive value and growth for Lexicon and focus on opportunities where we can have the most impact for patients.” In alignment with this reprioritization of resources, the company is planning the following action...