Shares in N4 Pharma rise on plans to make a better Viagra

 
Courtney Goldsmith
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The drugmaker hopes to make a better version of Viagra (Source: Getty)

Specialist pharmaceuticals firm N4 Pharma today revealed its plans to apply for a patent for an improved version of Viagra, causing shares to rise up more than seven per cent.

N4 Pharma, which reformulates existing drugs and vaccines, published its patent application to update Sildenafil, the drug found in Viagra, which is Pfizer's erectile dysfunction drug. N4 aims to create a longer-lasting, faster-acting formulation.

Shares in the company were up 7.15 per cent at 6.3p in late morning trading.

"With the patent application now formally published, we can talk more freely with investors and other interested parties about what our reformulated Sildenafil will hope to achieve in terms of its pharmacokinetic properties and where it might sit amongst competitors in this highly lucrative market," said Nigel Theobald, chief executive of the company.

According to market research undertaken by Black Swan Analysis, between 12 per cent and 25 per cent of clinicians in the UK and between 19 per cent and 28 per cent in the US said they would switch to N4's product.

The next stage of granting the final patent is 2 October 2018.

Read more: Pharma group Futura's shares erupt on erectile dysfunction "breakthrough"

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