Corcept Therapeutics Inc. (CORT) said the U.S. Food & Drug
Administration approved its Korlym treatment for patients with
Cushing's Syndrome, a rare endocrine disorder.
The pharmaceutical company said it plans to make Korlym, a
once-daily oral medicine, available to patients by May 1 through a
distribution system. Corcept, which focuses on treatment of severe
metabolic and psychiatric disorders, will be the sole marketer of
the drug.
"A relatively small number of endocrinologists regularly treat
patients with Cushing's syndrome," said Chief Executive Joseph
Belanoff. "These doctors can be reached without a large sales and
marketing infrastructure."
Corcept said it started hiring medical-science liaisons to
inform practitioners about the drug, which will be dispensed by
Express Scripts Inc.'s (ESRX) subsidiary CuraScript SP.
Cushing's Syndrome results from long-term exposure to excess
levels of the hormone cortisol. Korlym blocks the glucocorticoid
receptor to which cortisol usually binds with, inhibiting the
effects of excess cortisol.
The FDA designated Korlym orphan drug status, which encourages
the development of medicines for rate diseases and conditions, and
as a result Corcept will have marketing exclusivity for the drug
until February 2019.
Shares closed at $3.03 Friday and shares were recently up 50% in
after hours trading to $4.55.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com