NASDAQ Investor Forum Exhibitor Profile for Agouron Pharmaceuticals, Inc.
March 5, 1998 03:31 PM
PHOENIX--(BUSINESS WIRE)--March 5, 1998--The following is a profile for Agouron Pharmaceuticals, Inc., who will be an exhibitor at the NASDAQ Investor Forum, March 7, 1998, at the Phoenix Civic Center Plaza.
Company Name: Agouron Pharmaceuticals, Inc.
Trading Symbol: AGPH
Company Address: 10350 North Torrey Pinces Road
City/State/Zip: La Jolla, CA 92037-1020
Investor Relations: Donna Nichols, Vice President,
Head of Corporate Communications
Investor Relations Phone: 800/501-AGPH
Industry: Biotechnology
Website: www.agouron.com
Summary Presentation:
INNOVATIVE PHAMACEUTICAL PRODUCTS FOR SERIOUS DISEASES
INVESTMENT FEATURES
Powerful technology that we created
Agouron Pharmaceuticals, Inc. is a company with a vital mission: to provide innovative drug therapies for people with some of the most difficult diseases of our time. At the company's core is a dynamic technology that was forged by Agouron scientists. This approach -- protein structure-based drug design -- allows for the design of novel drugs that inactivate the proteins that play key roles in cancer, AIDS and other serious diseases. This technology has allowed the company's scientists to overcome problems in drug discovery and design that were insurmountable by conventional methods.
A highly successful entry into an expanding market
Agouron's first commercial product, an HIV protease inhibitor, was cleared by the FDA last year just 38 months after it was first synthesized -- the most rapid program of development and commercialization of a new drug ever to be carried out in the U.S. pharmaceutical industry. This drug is used to treat HIV infection in adults and children and is marketed in many countries worldwide. It continues to gain significant market share (30%), making it the second most widely used drug in this important class of drugs.
And there appear to be significant growth opportunities ahead.
Currently, there are an estimated 900,000 people living with HIV in the U.S. Of these, only 23% (209,000 patients) are receiving protease inhibitors. Prescription data reveal that the protease inhibitor market is already over $1 billion today, with the potential to expand by at least 50% by the end of 1998.
Strong sales that have exceeded expectations
In the quarter that ended December 31, 1997, Agouron realized total revenues of $104.7 million -- a figure driven by $91.8 million second-quarter fiscal year sales of the company's HIV protease inhibitor. First-year sales of the product are nearing $300 million, a new record in the biopharmaceutical industry. And sales are projected to achieve $350 million in the U.S. for fiscal 1998. This drug has already garnered the highest share of this $1 billion market, competing successfully with products from some of the pharmaceutical industry's largest corporations.
A deep product pipeline
Currently, Agouron has two drugs under evaluation in human clinical trials for the treatment of certain cancers. Another anticancer compound is expected to move into Phase II clinical trials later this year. Beyond that, Agouron scientists are engaged in a dozen diverse programs, developing drugs to treat everything from ophthalmic disease to the common cold.
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