Minrad, of Orchard Park, NY, today received FDA approval for Sojourn (sevoflurane), an inhalation anesthetic. The product is currently being marketed in five other countries; with the U.S. nod, Minrad is now awaiting a decision on 12 pending approvals. The company has already signed agreements for sevoflurane with 32 partners, which will provide minimum purchases of $75 million by 2008. Minrad believes sevoflurane represents a $1 billion market opportunity.
Minrad got into inhalation anesthetics in December 2000, when it acquired that portion of Celltech Medeva’s business along with its manufacturing facility in Bethlehem, PA. In addition to sevoflurane, Minrad also makes enflurane (brand name Compound 347) and isoflurane (Terrell), also anesthetics and both FDA approved. Recently, Minrad’s pharmaceutical business has been a welcome addition to what’s traditionally been the company’s strong suit — medical devices, sales for which were negligible in 2006.