Idorsia Explained

Idorsia AG
Type:Public company
Isin:CH0363463438
Founded:2017
Founder:Jean-Paul Clozel, Martine Clozel
Hq Location:Allschwil
Hq Location Country:Switzerland
Key People:Jean-Paul Clozel (CEO), Martine Clozel (Chief Scientific Officer), Guy Braunstein (Chief Medical Officer)
Products:clazosentan, daridorexant
Revenue:- 828 million CHF
Revenue Year:2023
Num Employees:> 1200
Num Employees Year:2022
Website:http://www.idorsia.ch;http://www.idorsia.com

Idorsia is a Swiss pharmaceutical research company in Allschwil, near Basel, Switzerland.

History

After Actelion was bought by Johnson & Johnson in 2017,[1] Idorsia was spun out into a new company and started operating on the same campus where Actelion was founded under the leadership of Actelion founders Jean-Paul Clozel as CEO and Martine Clozel as CSO. The company expects to be profitable in 2025.

In July 2023 due to a disappointing sales ramp-up of the recently approved sleep drug daridorexant, coupled with disappointing trial results in both clazosentan and lucerestat, Idorsia announced layoffs of up to five hundred staff of its one thousand two hundred total employees, to reduce cash burn at its Swiss headquarters by fifty percent.[2] [3] The main shareholder Jean-Paul Clozel provided Idorsia with a private loan of CHF 75 Mio.[4]

In the same month, Idorsia sold its operating businesses in Japan and South Korea to the Japanese firm Sosei Heptares for CHF 400 million. This includes the rights to market clazosentan (Piviaz) and daridorexant (Quviviq) in the Asia Pacific region excluding China, plus rights on two other treatments and up to five clinical-stage programs in Idorsia's pipeline.[5]

Products

Table current as of May 2, 2022, listing the drugs that have reached at least phase 3 trials.[6]

drug disease, condition, remarks phase
Insomnia
First insomnia drug to improve both night-time symptoms and day-time function[7]
Approved in the United States and the EU[8]
Approved in Japan
Phase 3 failed; research into other applications continuing
Phase 3

Notes and References

  1. Web site: Johnson & Johnson Announces Completion of Acquisition of Actelion Johnson & Johnson . 2023-08-21 . Content Lab U.S. . en.
  2. Web site: Ltd . Idorsia Pharmaceuticals . 2023-07-21 . Idorsia announces a cost reduction initiative to be implemented by the end of 2023 . 2023-08-21 . GlobeNewswire News Room . en.
  3. Web site: Waldron . James . 21 Jul 2023 . Sleepless nights for 500 Idorsia Staff .
  4. Web site: Serrar . Karim . 2023-08-08 . Bio Revolution: Neu-Bewertung von Biotech-Aktien durch Biokonvergenz . 2023-08-31 . Schweizer Aktien.
  5. Web site: Smith . Jonathan . 2023-07-20 . Idorsia sells APAC businesses to Sosei Heptares for $466 million . 2023-09-27 . OUtsourcing Pharma.
  6. Web site: Idorsia Company Profile . 2022-05-02 . Idorsia.
  7. Web site: The Lancet Neurology reports impact of daridorexant on both nighttime symptoms and daytime functioning in adults with insomnia . 2022-02-22 . 2022-05-02.
  8. Web site: Idorsia-Medikament Quviviq erhält Zulassung in der EU . 2022-05-03 . 2022-05-03 . cash.ch . de . Idorsia drug Quviviq gains approval in the EU.