Eurand N.V. is a specialty pharmaceutical company that develops, manufactures and commercializes enhanced pharmaceutical and biopharmaceutical products based on its proprietary drug formulation technologies. The company utilizes these technologies to develop novel products that will have advantages over existing products or will address unmet medical needs.
The company currently generates revenues from product sales, royalties on products its licensees commercialize and development fees related to co-development work. Product sales represent revenues from products developed, manufactured and sold by the company to its licensees, who in turn market and distribute the products.
Eurand's lead product candidate is Zentase, for which the company has completed two phase III clinical trials for the treatment of exocrine pancreatic insufficiency (EPI). The company plans to launch Zentase in 2008 on its own if approved by the U.S. FDA. In addition to Zentase, Eurand is also developing a number of other products both for its collaboration partners and for its internal portfolio. Currently, the most advanced of pipeline products include three co-development products and one proprietary product candidate.
Eurand was formed in 1999 when affiliates of Warburg Pincus LLC and Gear id Faherty, its Chief Executive Officer, acquired the drug delivery business of American Home Products Corporation, now Wyeth. In 2006, the company had approximately $109 million ( 83 million) in revenues, primarily from sales of products developed and manufactured by the company using its formulation technologies that its licensees commercialize. The company's licensees market over 40 different products using its technologies in many of the world's largest pharmaceutical markets. These products generated $92 million ( 70 million) in product sales for the company in 2006. The remainder of its revenues consisted of royalties and development fees.
Eurand NV is a holding company incorporated in the Netherlands as a private company with limited liability in 1984. The company was converted into a Dutch public limited liability company on November 30, 2006. The company has operating subsidiaries organized in the U.S., Italy, France and Ireland. The company's shares began to trade in NASDAQ in May 2007. Eurand employs about 500 people.