Operator
Good morning, ladies and gentlemen. Thank you for joining us for TherapeuticsMD first-quarter 2020 financial results conference call. [Operator instructions] I would now like to turn the call over to TherapeuticsMD s vice president of investor relations, Nichol Ochsner. Nichol?
Nichol Ochsner
Vice President, Investor Relations
Good morning, everyone. Thank you for joining today to discuss our first-quarter financial results and business update. This morning, TherapeuticsMD issued a press release announcing our first-quarter financial results. The press release is available on the company s website therapeuticsmd.com and the Investors and Media section.
On today s call from TherapeuticsMD are Chief Executive Officer Robert Finizio, Chief Financial Officer James D Arecca, Chief Commercial Officer Dawn Halkuff, and Chief Strategy and Performance Officer Mitchell Krassan. I would like to remind everyone that certain statements made during this conference call may be forw
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Earlier this month, Eric Sagonowsky reviewed the top ten drugs in the U.S. (in terms of sales) losing patent exclusivity in an article published by
These drugs are Lucentis (Genentech/Roche), Bystolic (AbbVie/Allergan), Vascepa (Amarin), Nothera (Lundbeck), Narcan (Emergent Biosolutions), Brovana (Sunovion), Sutent (Pfizer), Saphris (AbbVie/Allergan), Amitiza (Mallinckrodt), and Feraheme (Amag Pharma). The nature of these losses and consequences thereof can be seen from the article, synopsized here.
Lucentis (ranibizumab), Roche s drug for macular degeneration, is a humanized mouse monoclonal antibody fragment specific for vascular endothelial growth factor A. It is related to Roche s Avastin (bevacizumab) product, having been modified for injection into the vitreous humor of the eye for the treatment of wet age-related forms of the disease (AMD).
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That decision was anything but a complete victory for the Commission s position. Indeed, Justice Breyer wrote a relatively nuanced opinion holding, most importantly, that such settlements were not a
per se antitrust violation (the FTC s original position). Rather, the Court held that such agreements must be evaluated under the rule of reason. However, reasonableness (
i.e., how tightly tethered to reality) of any such determination depends in larger part on the reasoner, and this characteristic (or flaw) is illustrated in the first full-fledged appellate affirmance of the FTC in a reverse payment settlement case,
The case arose over a settlement between branded drug maker Endo against Impax over its extended-release oxymorphone opioid drug product, Opana ER. The agreement, entered into before the Supreme Court s
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Operator
Greetings, and welcome to the Avadel Pharmaceuticals Fourth Quarter and Full-Year 2020 Earnings Call. [Operator Instructions] A question-and-answer session will follow the formal presentation. [Operator Instructions]
I will now turn the conference over to your host, Tom McHugh. You may begin.
Thomas S. McHugh
Chief Financial Officer
Good morning, and thank you for joining us on our conference call. This morning, we issued our full year and fourth quarter financial results news release. The release can be accessed on our website, www.avadel.com.
As a reminder, before we begin, the following presentation includes several matters that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. These risks include risks that products in the