ITMN - CC - The part I missed the first time -
Archive link, available after 2 EST today:
streetfusion.com.
Please listen for yourself if you are serious about ITMN. Please also feel free to correct any of my statements if I misunderstood the CC.
I got this much before getting interrupted:
- the deal with BI covers world wide rights not already owned by ITMN for IPF, TB, fungal infections, CGD and osteo petrosis. Notably absent are cancer indications, but discussions are continuing for partnering these.
- ITMN will fund and manage trials
- As sales rise ITMN stands to earn 40% of world wide profits, starting over 9,000,000 euros of sales (baseline reflects current BI sales)
- EU is projected to have 1/2 the sales potential of US
Incremental Revenues & Royalties (000,000) expected:
2002 $ 15M -- $0.5M
2003 $ 30M -- $4.5M
2004 $100M -- $16.5M
Incremental costs of program:
2002 $1.5M
2003 $3.0M
2004 $3.0M
Acretions to EPS:
2003 $0.05
2004 $0.50
2005 $1.00
2006 $1.50
Reimbursement for IPF in Austria and parts of Germany already happening at sales pricing about 2/3's ($33,333) of US ($50,000).
Anecdotal reports for off label use of Actimune continue to be very favorable, getting off oxygen, breathing better, returning to work.
Company is starting a registry to collect this type of data.
Additional sales reps entered the field in January. In 2000 the company was getting about 40-50 calls per month from patients and doctors. In February, 2001 that jumped to 160-170.
ITMN will not be required to spend marketing dollars for EU sales but will do some educational programs with BI.
A questioner (not the company) stated that the Biogen study of Avonex to treat IPF has failed. He went on to ask if there were any other competing drugs coming for IPF. Said not for at least 4 or 5 years as far as the company knows.
As of last Friday 100 of the 260 patients had been enrolled and the study (IPF) was on schedule for completion mid-year.
A mid-study review will be done at 6 months from the date the 100th patient was enrolled. The purpose will be to see if the placebo group is progressing. It will be done by a third party and the study will continue blinded.
More doctors are starting the drug early in IPF.
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