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Biotech / Medical : Lidak Pharm. [LDAKA]
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To: luis a. garcia who wrote (406)8/16/1997 12:45:00 AM
From: Michael Young   of 1115
 
You have to understand the position of LDAKA. They are a small biotech with limited resources. They have bet the company on a few drugs. It's the nature of these companies to push forward on "long shot" drugs.

Companies like PFE and MRK have a lot of drugs in development at any one time. They can afford to dump a product that only shows marginal effectiveness. Those companies routinely kill drug development programs, while small biotechs will pursue development of a drug on the basis of marginal results all the time. They simply can't afford to develop dozens of drug candidates.

A perfect example is LIPO. They pursued the development of Ventus for ARDS on the basis of a Phase II study that only included 25 patients. I lived through that story, and it wasn't pretty.

At the time LDAKA began development of the Karposi Sarcoma drug the market for the indication was substantial. Now the market is shrinking and competition is already on the scene. But they are not going to simply drop the product at this point. It cost too much to take them this far to just give up. Instead they will probably develop the drug to the end and then hope for the best.

Same with Lidakol for herpes. I also suspect the latest data is not as good as we had hoped. But the company has no choice but to go ahead with the NDA.

The key is BMY. Will they spend big money to promote Lidakol in the US?

MIKE
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