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Biotech / Medical : Cambridge Antibody Technology Group

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To: tuck who wrote (354)4/9/2003 9:09:49 AM
From: nigel bates   of 625
 
From Abbott statement -



Q2) What is the status of the HUMIRA launch?

A2) Abbott began shipments of HUMIRA early in the first quarter, a little
more than a week after its approval by the FDA. We are very pleased
with the launch progress and continue to receive positive feedback
from both patients and physicians. Prescription trends and market
share growth have been strong, and more than 95 percent of all
managed care organizations are now reimbursing for HUMIRA. Sales in
the quarter totaled $26 million, including $24 million from the
United States and $2 million in international sales from patient
named basis (PNB) programs. Final European regulatory approval is
pending.

As a result of the prescription growth trends for HUMIRA, Abbott is
raising its 2003 worldwide sales forecast for the drug from more than
$150 million to more than $200 million, based on our recent U.S.
launch and a European launch later this year. In 2004, we project
worldwide sales in excess of $500 million, and we continue to
forecast peak-year sales of more than $1 billion for the rheumatoid
arthritis (RA) indication alone. As would be expected with any new
drug the size of HUMIRA, we will invest heavily to ensure we realize
its full commercial potential. Since RA is just one of the many
potential indications for HUMIRA, we are also pursuing five
additional indications -- each with the commercial potential to add
several hundred million dollars in incremental revenue to our
$1 billion peak-year forecast for RA. The company already has
initiated trials in psoriasis, psoriatic arthritis, juvenile RA and
Crohn's disease and expects to begin trials in ankylosing spondylitis
in the coming months.
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