Inspire Pharmaceuticals launched sales of the eye treatment drug AzaSite on Monday.
Inspire (Nasdaq: ISPH) recently received Food and Drug Administration for AzaSite, which it licensed from InSite Vision.
Inspire shares traded up 13 cents at $5.83 on Monday afternoon.
The drugs is used to combat pinkeye. Inspire expects sales of between $30 million and $45 million in 2008.
“Inspire is responsible for marketing and selling AzaSite in the United States, and we have prepared extensively for the commercial launch by building a new infrastructure to make the product available,” said Inspire Chief Executive Officer Christy Shaffer. “Our sales force will be expanding on already established relationships with eye care specialists by also targeting high prescribing pediatricians and primary care physicians.”
In June, Inspire raised an additional $20 million in financing to help with launch of AzaSite.
Inspire agreed to pay $32 million for the U.S. and Canadian rights to AzaSite.
Inspire already employs 98 sales people.