American pharmaceutical firm Auxilium Pharmaceuticals said that its new drug fared better than placebo in treating penile curvature, according to the results of two late stage trials.
The company said that the drug, Xiaflex, was able to reduce the curvature of penis by 30 percent and added that it will be submitting the drug for approval by the end of this year. Xiaflex is already being used as a treatment option for people with Dupuytren's Contracture in which the muscles of the hand tighten due to accumulation of a type of protein.
Auxilium revealed that the drug was able to successfully reduce the curvature of penis among patients with Peyronie's Disease, which is caused by accumulation of the protein collagen. The company estimated that as many as 65,000 and 120,000 causes of Peyronie's Disease are diagnosed every year in the United States.
RBC Capital Markets analyst Michael Yee told Reuters that the drug should be approved for treating Peyronie's Disease as it has met the primary goal of the trial. "We think the longer-term U.S. market is probably $100 million plus, as the market would grow from the 5,000 to 6,000 patients currently receiving injections/surgery", he said.