Corcept Therapeutics Inc. (CORT - Analyst Report) recently announced that it has formed a partnership with Idis.
As per the partnership, Corcept’s Korlym will be available to patients outside the U.S. through a global program, Idis Access Program. Korlym is approved in the U.S. as a once-daily oral medication for the treatment of hyperglycemia secondary to endogenous Cushing’s syndrome in adults who have type II diabetes or glucose intolerance and cannot undergo a surgery.
We note that Korlym was launched by Corcept in the U.S. in Apr 2012. The U.S. Food and Drug Administration (FDA) approved the drug in Feb 2012.
The program enables patients to obtain access to investigational or approved drugs before the drugs are commercially launched in their country. The access is obtained through a regulatory-compliant and ethical channel on a named-patient basis.
We note that Corcept enjoys orphan drug designation for Korlym from the FDA for the approved indication. The European Commission also granted orphan drug designation to Korlym for the treatment of endogenous Cushing’s syndrome in Oct 2011.
We note that Korlym is the only approved drug at Corcept. Hence the successful commercialization of Korlym continues to be a priority for Corcept. Corcept’s partnership with Idis will allow physicians to prescribe Korlym outside the U.S. as well.
We remind investors that Corcept also has an ongoing phase III study on mifepristone, the active ingredient in Korlym, for the treatment of psychotic depression.
Corcept currently carries a Zacks Rank #3 (Hold). Right now, stocks like Jazz Pharmaceuticals (JAZZ - Analyst Report), Actelion Ltd. (ALIOF - Snapshot Report) and WuXi PharmaTech (Cayman) Inc. look attractive. All three carry a Zacks Rank #1 (Strong Buy).