Brief Overview
Since commencing operations in early 2004, Victory has acquired several pain management products, which we market to rheumatologists, orthopedists, pain specialists and primary care physicians. Our lead product is Naprelan®, a non-steroidal anti-inflammatory drug (NSAID), which we acquired in late 2006. Naprelan® is based on a proprietary delivery system that enables once daily dosing (versus twice daily dosing for most other NSAID therapies), and we have successfully grown its sales since its re-launch in January 2007.
In addition to acquiring and marketing pain relief products, we also have a pipeline of clinical development programs focused on the treatment of pain and related side effects. These programs are based on novel formulations, alternative delivery and/or patented combinations of prescription products that have already received U.S. regulatory approval. This development approach can enable a shortened development and regulatory approval cycle.
The Pain MarketThe US market for pain management therapeutics is estimated to be over $40 billion per year. This market includes treatment for a wide range of conditions including postoperative pain, cancer pain, arthritis pain, migraine pain, neuropathic pain, and back pain. These conditions are treated by a wide range of clinicians, including pain specialists, rheumatologists, orthopedists, neurologists, podiatrists and primary care physicians. This granularity of indications and prescribing professionals creates opportunities for a focused, specialty pharmaceutical sales and marketing approach.
A number of factors are driving growth and creating opportunities for new products within the pain management market. These include:
- An aging population with growing, pain relief needs
- Growing acceptance of aggressive pain treatment
- Dissatisfaction with efficacy and/or side effects profile available pain relief products
- Favorable market reception to new delivery methods and product combinations
