Could FRX be added to the neuro port.?
Forest Labs' Celexa Gaining Ground In Antidepressant Mkt
This story was originally published Wednesday.
NEW YORK -- Forest Laboratories Inc.'s (FRX) recently launched antidepressant drug Celexa has captured 7.5% of new prescriptions in the U.S. selective serotonin reuptake inhibitor market, President and Chief Operating Officer Kenneth Goodman told investors at a PaineWebber investment conference here Wednesday.
"We are very encouraged by these prescription trends that we see," Goodman said.
Celexa entered the nearly $6 billion U.S. antidepressant market last September with an advantage over many competing drugs, Goodman said. "Celexa has only one commonly observed side effect," he said, noting that certain other drugs have numerous side effects. The one side effect of Celexa is male ejaculatory delay, which is also linked with other antidepressants.
The limited side effect profile has helped Forest grab market share away from competitors, and the company has taken steps of its own to drive Celexa's growth. One step included a private financing of $60 million to beef up the company's sales force. Forest also entered a co-promotion agreement with Warner-Lambert Cos.' (WLA) Parke-Davis division for Celexa.
Goodman said more than 100,000 doctors have already prescribed Celexa. Of the doctors who prescribed the drug through May 14, 77% issued prescriptions more than once, he said.
Indicated for depression, Celexa is being prescribed for other uses like anxiety. Benefits of the drug shown in additional clinical studies involving competing drugs are also expected to help boost sales. Forest will have at least five years of exclusivity on the product.
Celexa's launch follows a transition at Forest in which the company decided it needed to add newer drugs to target larger markets in order to sustain growth. "This transition at Forest has not been without some hiccups along the way," Goodman said. After changing its strategy in 1995, the company faced competition from generic and branded drugs and increasing investment costs. Since the transition, the company has launched five products and boosted sales. Forest licensed Celexa from the Danish firm H. Lundbeck A/S. Other antidepressant drugs include Prozac and Zoloft, both of which are marketed by Pfizer Inc. (PFE).
Have not done any DD, just saw the press in todays WSJ.
Jim |
