Scios Announces Strong Fourth Quarter and Year End Natrecor Sales And Increases 2002 Sales Outlook
Scios' 168-Person Sales Force and Marketing Group Successfully Penetrating
The Growing Acute Heart Failure Market
SUNNYVALE, Calif., Jan. 7 /PRNewswire/ -- Scios Inc. (Nasdaq: SCIO) announced today that net sales for its lead product Natrecor(R) (nesiritide) were $9.6 million in the fourth quarter of 2001, its first full quarter of sales. Net sales of Natrecor for the year ended 2001 were $14.1 million, only four and a half months after commercial launch in the United States. Based on this strong start, Scios has raised its full year 2002 net sales outlook for Natrecor to $55 to $60 million.
"We are getting great feedback from the increasing number of clinicians using Natrecor around the country. As a result, Natrecor is now stocked in nearly 1,000 hospitals and being added to more and more hospital formularies every month," said Richard B. Brewer, Scios' President and Chief Executive Officer. "Our recently announced partnership with GlaxoSmithKline in Europe will expand the global sales growth potential of Natrecor significantly."
"In addition, we continue to roll out ADHERE, our national Acute Decompensated HEeart failure REgistry, and study Natrecor in additional heart failure treatment settings. Successful implementation of these programs in addition to core market penetration in the United States and Europe should enable Natrecor to achieve top-tier sales levels over the next five years."
Natrecor is the first of a new drug class and a recombinant form of B-type natriuretic peptide (BNP), a naturally occurring hormone secreted by the heart in response to heart failure.
The initial promotional focus has been with cardiology and emergency medicine physicians. Scios has seen considerable usage and frequent reorders in its targeted hospitals. Acceptance of Natrecor has also been indicated by a high level of interest by national Group Purchasing Organizations (GPOs) and managed care. Several contracts have been completed and additional contracts are in the final stages with several GPOs. Natrecor was also recently added to the Kaiser formulary in both Northern and Southern California.
"Our sales results confirm that Natrecor fills a growing market need," said Thomas Feldman, Scios' Vice President of Sales and Marketing. "Our understanding of the market allowed us to penetrate initial targets quickly and effectively. This, coupled with our strong sales force, makes us very optimistic about achieving sales goals in 2002 and beyond."
Presentation / Webcast Details at JP Morgan H & Q
Mr. Brewer will present at the 20th Annual JPMorgan H&Q Healthcare Conference at 2:00 p.m. PST in the Colonial Room of the Westin St. Francis Hotel in San Francisco, Calif. The presentation will be available via live webcast at www.eventsdigital.com/events/jpmhq/healthcare2002 and archived for 60 days following the presentation or by logging onto the investor section of the company's website at www.sciosinc.com.
Fourth Quarter and Year End Conference Call Details
The company will discuss additional details when it releases fourth quarter and full year 2001 financial results on Thursday, February 7, 2002. The customary quarterly conference call will be held at 7:00 a.m. PT / 10:00 a.m. ET. The call will also be broadcast live and archived on Scios' web site at www.sciosinc.com.
Scios Inc.
Scios is a biopharmaceutical company developing novel treatments for cardiovascular and inflammatory disease. The Company's disease-based technology platform integrates expertise in protein biology with computational and medicinal chemistry to identify novel targets and rationally design small molecule compounds for large markets with unmet medical needs.
Forward-Looking Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We generally identify such forward-looking statements using words like "believe," "intend," "expect," "may," "should," "plan," "project," "contemplate," "anticipate" or similar statements. Statements that are not historical facts are forward-looking statements based on current assumptions that involve risks and uncertainties. These risks and uncertainties may include the sales penetration and success of Natrecor, the success of clinical trials of Natrecor and our pipeline products, including SCIO-469, as well as other risks detailed from time to time in the reports filed by Scios with the SEC, including the Company's quarterly reports and annual report on Form 10-K. Actual results, performance or achievements of Scios may differ significantly from those described in these forward-looking statements. Scios disclaims any intention or obligation to update or revise any financial projections or forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Scios Inc.
CO: Scios Inc.
ST: California
IN: BIO MTC
SU: ERP CCA
01/07/2002 16:15 EST prnewswire.com |
