Tulsa drug maker has big hopes for new products

Journal Record, The (Oklahoma City), Dec 12, 2006 by Kirby Lee Davis

Two new medicines by Tulsa's Plymouth Pharmaceuticals promise to triple company revenues.

Over the past two years, Tulsa dermatologist Steven A. Smith developed and formulated the homeopathic medicines Acunol, to treat acne and rosacea, and Eczemol, for treating eczema.

Plymouth contracted Heel Inc. of Albuquerque, N.M., to produce its products. Wholesale distributors McKesson and Cardinal Health will stock both trademarked medicines, giving Plymouth access to pharmacies across the nation.

Miles Smith, vice president and general manager of Plymouth Pharmaceuticals and subsidiary Loma Lux Laboratories, said Plymouth's sales staff will call physicians' offices to inform them about the drugs.

Both medicines involve sizeable potential markets.

"The market for acne is approximately 25 million people in the U.S. alone, one of the larger disease-class markets for pharmaceutical companies," he said.

Plymouth, which Steven Smith incorporated in 1991, marketed its first products five years later. From its Loma Lux over-the-counter line sold at Target, Amazon.com and other locations, as well as two other Plymouth products, the company of four employees expects $1 million in revenue for 2006.

Miles Smith projects first-year sales of 15,000 units of Acunol, estimated to value $1 million, and from 15,000 to 17,000 units of Eczemol, translating to $1 million to $1.2 million.

Plymouth has no targeted five-year growth projections. "The sky's the limit," he said of Acunol, projected five-year results could grow as high as $40 million. He took a more conservative approach to Eczemol, foreseeing a market of $7 million in revenue.

The effectiveness of homeopathic medicines, which do not face the same regulatory hurdles of traditional allopathic medicines, have sometimes drawn questions or ridicule from the medical community.

Plymouth said eight of 10 patients who took these treatments reported at least moderate improvement under clinical studies.

"Acunol is a safe biochemical compound with fewer side effects than most prescription acne treatments currently available, and it contains no antibiotics," said Steven Smith, a fellow of the American College of Physicians. The tablet was crafted for treating mild to moderate symptoms.

Steroid-free Eczemol is the only daily oral tablet available in this class, Plymouth's Web site claims, with minimal adverse reactions.

"Our main goal is to help people with symptoms of these skin conditions, and of course to make money," said Miles Smith. "Both Dr. Smith and I really believe in these products. We would like to grow this company to develop more products down the road, and to do that we need to grow our sales."