This seems like a forthright 10-K; they discuss their markets and competition in greater detail than I'm used to. From the "competition" section:
>>Due to the incidence and severity of cardiovascular diseases, the market for
anticoagulant therapies is large and competition is intense and growing. We are
developing Angiomax as an anticoagulant therapy for the treatment of ischemic
heart disease. There are a number of anticoagulant therapies currently on the
market, awaiting regulatory approval or in development.
In general, anticoagulant drugs may be classified in three groups: drugs that
directly or indirectly target and inhibit thrombin or its formation, drugs that
target and inhibit platelets activation and aggregation and drugs that break
down fibrin. Indirect thrombin inhibitors include heparin and low molecular
weight heparins such as Lovenox, Fragmin and pentasaccharide. Direct thrombin
inhibitors include Angiomax, Argatroban, Melagatran and hirudins such as
Refludan. Platelet inhibitors include aspirin, Ticlid and Plavix. GP IIb/IIIa
inhibitors include ReoPro, Integrilin and Aggrastat. Fibrinolytics include
Streptase, Activase, Retevase and TNKase.
Because each group of anticoagulants acts on different clotting factors, we
believe that there will be continued clinical work to determine the best
combination of drugs for clinical use. We plan to position Angiomax as an
alternative to heparin as baseline anticoagulation therapy for use in patients
with ischemic heart disease. We expect Angiomax to be used with aspirin alone or
in conjunction with other fibrinolytic drugs or platelet inhibitors. We will
compete with indirect and direct thrombin inhibitors on the basis of efficacy
and safety, ease of administration and economic value. Heparin's widespread use
and low cost to hospitals will provide a selling challenge.
We do not plan to position Angiomax as a direct competitor to platelet
inhibitors such as ReoPro from Centocor, Inc. and Eli Lilly and Company,
Aggrastat from Merck, Inc. or Integrilin from Cor Therapeutics, Inc. and
Schering-Plough Corporation. Similarly, we do not plan to position Angiomax
as a competitor to fibrinolytic drugs such as Streptase from Aventis S.A., Retevase
from Centocor, Inc., and Activase and TNKase from Genentech Inc. Platelet
inhibitors and fibrinolytic drugs may, however, compete with Angiomax for the use
of hospital financial resources. Many U.S. hospitals receive a fixed reimbursement
amount per procedure for the angioplasties and other treatment therapies they perform.
Because this amount is not based on the actual expenses the hospital incurs, U.S. hospitals
may be forced to use either Angiomax or a platelet inhibitor or fibrinolytic drugs but not both.<<
snip
Cheers, Tuck |
