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Description:
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Inspire Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the discovery, development and commercialization of prescription pharmaceutical products, with a primary focus on ophthalmic and respiratory/allergy therapeutic areas. The Company's ophthalmic products, Restasis and Elestat, and product candidates are concentrated on the allergic conjunctivitis, dry eye disease and glaucoma indications. Inspire's respiratory/allergy product candidates are concentrated on the treatment of respiratory complications of cystic fibrosis and seasonal allergic rhinitis. In addition, the Company has an antiplatelet product candidate that is being tested in cardiopulmonary bypass procedures, but may be useful in other cardiovascular indications. Inspire co-promotes Elestat and Restasis in the United States under agreements with Allergan, Inc. For the three months ended 31 March 2006, Inspire Pharmaceuticals Inc's revenues totaled $5.5M, up from $1.8M. Net loss rose 5% to $14M. Revenues reflect the inclusion of co-promotion revenue of Elestat and Restasis & the recognition of development milestone of $1.25M for diquafosol from Santen in accordence with the develoment, licence & supply agreement. Higher loss reflects increased R&D expense and higher general & administrative expenses.
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