Pharmaxis to get PBS tick for Bronchitol

Pharmaxis (ASX:PXS) received a significant boost last week when it was informed that its cystic fibrosis treatment, Bronchitol, is slated for listing on the Pharmaceutical Benefits Scheme

This represents a significant milestone for the company, which has taken Bronchitol through the development, commercialisation, manufacturing and regulatory approval stages entirely under its own steam rather than partnering – and sharing profits – with another company.

Bronchitol, is a drug designed to reduce the amount of mucus build-up in the lungs of patients suffering from chronic respiratory conditions.

It is currently undergoing regulatory assessment I the United States and Europe.

Pharmaxis was informed verbally of the recommendation to list Bronchitol on the PBS following the March meeting of the Pharmaceutical Benefits Advisory Committee (PBAC).

“I am delighted that after a rigorous assessment by one of the world’s most demanding reimbursement authorities Pharmaxis has been able to successfully clear this hurdle and demonstrate the economic benefits of Bronchitol,” said Pharmaxis CEO, Dr Alan Robertson.

“There are approximately 2,800 Australians with the genetic lung disease and, apart from antibiotics, this is the first CF medicine to be recommended for listing on the Australian PBS for more than 15 years.”

“We welcome the decision to recommend Bronchitol for PBS listing, and congratulate Pharmaxis in getting a long awaited new treatment to the point of affordable access,” said David Jack, CEO of Cystic Fibrosis Australia.

Pharmaxis (ASX:PXS) is currently trading at $1.24, up from $1.085 prior to the announcement on 14 March.