Some FACTS about immunex.
Sam -- So you talk in riddles.
More generally, a few facts about Immunex seem to be in order.
1. Leukine continues to get additional label expansions, and the introduction of a liquid formulation seems to be encouraging adoption. Although Leukine will never seriuosly challenge Amgen's product, it could easily double in sales volume from here to $100m. (OK the last point is opinion, but in recent investor conferences the the company has been signalling to those who want to listen that Leukine sales are currently strong). It looks like the next label expansion will be for fending off infection in low birthweight babies.
2. Sales of Noventrone seem to have gotten a real kick from the approval for treamment of prostate cancer. Immunex recently disclosed that sales were running 30% ahead of Wall Street expecations.
3. Most significantly, TNF receptor looks goods (and the market potential is substantial). The phase II trials used a large sample (180) and got strong results (at the p<.0006 or p<.0002 level cf to a placebo). Phase III trials, which should be completed this fall, are double blind, so know one can possibly know until the wraps are taken off how things are progressing, not even PIs, not even you Sam).
4. Company is now covering all of its R&D expenses from internally generated cash flow. Not many biotechs you can say that about. |
