Putney Launches First FDA Approved Veterinary Generic Of SimplicefÂ®
PORTLAND, Maine, Feb. 11, 2013 /PRNewswire/ -- Putney, Inc., a rapidly growing pharmaceutical company focused on the development and sale of generic prescription medicines for pets, has launched generic veterinary Cefpodoxime Proxetil tablets. Putney's veterinary Cefpodoxime Proxetil is the first and only generic approved by the FDA's Center for Veterinary Medicine (CVM) as equivalent to Simplicef®. Putney's generic Cefpodoxime Proxetil is FDA CVM approved to treat certain skin infections in dogs.
Jean Hoffman, president and CEO of Putney, expects Putney's veterinary Cefpodoxime Proxetil to rapidly penetrate and expand the $25 million market, as veterinarians who currently prescribe either the brand or a human-approved generic choose Putney's pet-approved generic product. "Pet owners are looking for more affordable, equivalent medications to treat their pet family members, just like the FDA approved generic drugs that they are comfortable using when doctors prescribe medication for their human family," says Hoffman. According to a study by IMS Health, generics now account for over 80% of human prescriptions filled in the United States resulting in a savings of $3 billion every week for American consumers. 1 By contrast, generics in the veterinary pharmaceutical industry are just taking off -- only 7% of FDA CVM-approved medicines for dogs and cats have a veterinary generic equivalent. 2
Putney developed its Cefpodoxime Proxetil tablets in convenient once-a-day 100mg and 200mg doses, just like the brand. "We expect pet owners and veterinarians to opt for Putney's Cefpodoxime Proxetil because it's FDA approved for dogs, it's convenient, and it's more affordable," says TJ Dupree, Putney's chief operating officer. Putney's Cefpodoxime Proxetil tablets will cost at least 25% less to veterinarians than the branded product.
With the addition of this product, Putney now has three FDA approved veterinary generic medicines on the market, and Hoffman notes that Putney's Product Development and Regulatory team is currently overseeing more than twenty more products in various phases of development and FDA review. "We believe we have the deepest pipeline in veterinary medicine, aimed at providing veterinarians and pet owners with FDA approved generics of pet medicines where price is a barrier to prescribing and using the right drug for each pet's medical need. The approval of Putney's bio-equivalent Cefpodoxime Proxetil is just the beginning," says Hoffman.
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