In yet another clear sign that pharmaceutical companies are manufacturing a cure and have used the media and aggressive marketing to create a market, Clarus Therapeutics announced that they are resurrecting an IPO designed to back the launch of their new low testosterone drug Rextoro.
Clarus first mounted the IPO for Rextoro three years ago but withdrew it due to lack of market interest. Now with Low T clinics opening across the nation Clarus has mounted a bid to raise $86 million in venture capitol to launch Rextoro. In the IPO the company has announced the drug has gone through Phase III studies and was submitted to the FDA in January.
What the IPO should mention is that the FDA issued a drug safety communication in January and is currently investigating the risk of stroke, heart attack and death in men taking FDA-approved testosterone products. The IPO should also mention that in recent months, two studies have linked testosterone therapy to significant cardiovascular risks, or that Public Citizen recently published an analysis of 27 studies going back as far as 20 years and of those studies, the14 that were not funded by the pharmaceutical industry showed a “highly significant” increased cardiovascular risk.
The IPO might also let investors know that lawsuits against other makers of low T drugs are being filed nationwide. They include suits against Abbott Labratories subsidiary AbbVie, the manufacturer of the popular AndroGel and Auxilium Pharmaceuticals, which manufactures the low T drug Testim. In these cases men claimed they had heart attacks and/or strokes after taking the drugs.
With the annual market for low T drugs estimated at over $2 billion, Clarus makes clear with this resurrected IPO that they want a piece of the action. No matter the risks to patients, the profits are simply too great.
In the last 10 years drug companies have shamelessly marketed their testosterone-boosting drugs to doctors and the public, promoting it as a product that can overcome a supposed disease called “low T.” Never mind that low T isn’t actually a disease or that the symptoms are all just natural common problems associated with aging, the makers of these dangerous drugs would have you believe there is a new low T epidemic.
Now millions of American men are risking their health and resorting to testosterone drugs as lifestyle drugs out of simple reluctance to accept the fact that they are getting older.
There is no fountain of youth. Clarus and all of the other manufacturers of low T drugs know this. But with the market at $2 billion and climbing they are going to everything they can to convince men otherwise – regardless of how dangerous these drugs may be.