Waverley Pharma to Back Anti-Cancer Agent as It Mulls Future of Generic Drugs

By Adriano Marchese

Waverley Pharma Inc. said Monday that it is evaluating strategies for a number of its generic drugs as the company faces increased market pressures in the U.S. and Europe.

The Canadian specialty pharmaceutical company said it has had to cut the prices of its generic drugs to attract more business in the face of steep competition and rising costs which have led to price erosion and thinning margins. Waverley Pharma currently has four generic products approved for sale in the U.K. and two generic products, Pemetrexed and Bortezomib, approved for sale in other parts of the U.S. and Europe.

At the same time, Waverley Pharma said it is committing more resources to its PARP-1 inhibitor program to attract a development partner or a buyer for the anti-cancer agent’s lead compound after the program showed positive early results.

Write to Adriano Marchese at adriano.marchese@wsj.com