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Rick Stewart didn't understand about the laburnum trees growing in Bulgaria and their potential to produce a drug for giving up smoking back when he was the president of the pharmaceutical business Amarin. He was too deep inside the drug industry, a place frequently slammed for its short-sighted concentrate on revenues.
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Just then could he spot the opportunity in those yellow-flowering trees. Now, with the assistance of the National Institutes of Health, Stewart is trying to introduce the laburnum-derived drug to the U.S. market. The tablet works by disrupting tobacco yearnings, similar to Pfizer's top-selling Chantix, however perhaps without that drug's high-profile negative effects and at a much lower rate.
Today, scientists are excited about what might be the very first brand-new treatment for smoking cessation to emerge in years. "We need this," stated David Shurtleff, deputy director of the NIH Center for Complementary and Integrative Health, describing why his company is assisting to get the drug authorized. But laburnum's promise is not brand-new.
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From left, Ronald Martell, Rick Stewart and Anthony Clarke of Extab. Stewart wants to rebrand the smoking-cessation drug Tabex as Extab for sale in Western European and U.S. markets. (Tom Pilston) In 2007, Stewart had staked his task as the head of Amarin on a different drug. Miraxion was for treating Huntington's Disease, and early on it revealed indications of improving signs of the neurological disorder.
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Investors in Amarin, a $240 million business based in New Jersey, were shocked. The company's stock fell 80 percent. Stewart ran out a task. "The CEO constantly falls on his sword," Stewart, 56, says now. However Miraxion did appear to assist patients with Huntington's it just took longer than the 6 months allocated throughout the clinical trials.
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This led Stewart and Anthony Clarke, who likewise lost his job after running the trials for Amarin, to wonder what other misunderstood drugs were out there. The Most Complete Run-Down went on a hunt. "These drugs are neglected or unwanted. They require tlc," Stewart says. "And pharma, for whatever factor, can't be troubled with them." They set up a small company outside London called Ricanto a mash-up of their given names.