Baldness cure fails to stimulate city recovery
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Plant-based drugs company Phytopharm disappointed dozens of City stockbrokers and traders yesterday by admitting its cure for baldness, which has been on trial in the Square Mile, does not work.
The company's scalp ointment, P45, is derived from a family of Mediterranean lilies named drimea. Phytopharm began trials after hearing an "anecdote" about its use in stimulating hair growth in north Africa and southern Europe.
Clinical studies began in 1999 at three trichology clinics - one in Nottingham and two in the City of London. Wealthy, balding brokers were persuaded to spend a year slapping cream on their heads each morning.
The results were described as "weird" by Phytopharm's chief executive, Richard Dixey. P45 stimulated hair growth in 29% of patients. But a control group, who were given ordi nary cold cream, had a success rate of 38%.
Dr Dixey said: "This is a complex story, really.
"A lot of people were regrowing hair halfway through the trial, and were getting very excited about it. But it turns out many of them were in the cold cream group.
"Unfortunately, male pattern baldness is very poorly understood. It may well be that the drug was doing something, but that it was masked by the astonishing placebo result."
The product's failure drove Phytopharm's shares down 132.5p to 730p.
Dr Dixey said: "This really is a very weird result. The size of the placebo effect is greater than any study has ever shown before."
In previous attempts to treat baldness, US firms Merck and Pharmacia reported a steady continuation of hair loss in their placebo groups.
For Phytopharm, one problem was compliance - 75 men began the trial but only 24 stuck with it to the end. A third of those taking P45 complained that the cream made their scalp itch.
In cases where regrowth did take place, Dr Dixey said: "It was significant enough for the poor punter looking in the mirror each morning to be very encouraged."
The firm is waiting for the results of its trials on alopecia totalis - total baldness - before deciding whether to scrap P45 entirely. It still has 12 products in clinical development.
Source: observer.guardian.co.uk