Insulin retreats blamed for Generex stock drop

Generex is firmly in the camp that sees the glass as half full. After seeing its share price slide 16 percent yesterday, the developer attributed the sudden setback to decisions by Eli Lilly, Pfizer and Novo Nordisk to pull out of programs to develop other inhaled insulin products.

Worried? No, says Generex, happy to extol its late-stage drug's safety profile. The company says its Oral-lyn insulin doesn't leave a deposit in the lungs. And there's reason for cheer; the departure of the big companies removes some heavyweight competitors, says Generex.

Generex's stock woes followed a recent announcement from Alkermes that Eli Lilly is dropping out of their collaboration on an inhaled insulin therapy. Novo Nordisk and Pfizer have already pulled out of their respective programs. MannKind, meanwhile, reiterated its plans to forge ahead in the field.

- see the statement from Generex
- read the MarketWatch report

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