Sign up
Pharma Capital

Puretech Health hails US approval of weight loss aid Plenity

Plenity has been cleared for the BMI 25-40 kg/M2 category, the widest category of adults suffering from obesity
waist
PLENITY users shed 3.5 inches from their waists within 6 months as part of a weight reduction programme
London-listed Puretech Health PLC (LON:PRTC) hailed the first US approval for a drug it helped to develop.
 
Gelesis, which is 20.5% owned by Puretech, received the go-ahead for weight reduction aid Plenity earlier than expected and with a much wider marketing label.
 
Plenity has been cleared for the BMI 25-40 kg/M2 category, the widest category of adults suffering from obesity.
 
The orally-delivered treatment will now be available alongside diet and exercise to millions of overweight people who previously would not have had a prescribed treatment, said Puretech.
 
Broker Peel Hunt added the wide label roughly doubles the addressable market it had expected and has raised its target price for Puretech shares to 344p from 320p.
 
Puretech specialises in microbiome-derived treatments and conceived and developed the platform technology behind Plenity.
 
Shares rose 7% to 175p.
 
PhilW.jpg


Register here to be notified of future PRTC Company articles
View full PRTC profile View Profile
View All

Related Articles

© biotech Capital 2019

Biotech Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed biotech companies to interact with institutional and highly capitalised investors.
Headquartered in London, Biotech Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Biotechnology market.