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Biotech / Medical : Biotech Short Candidates

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From: tuck	12/22/2004 12:15:41 PM
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>>Eyetech Pharmaceuticals target raised to $71 from $63 at Merrill Lynch (From Briefing.com) Firm says co's $995 per injection price for Macugen is well above firm's $600 est. Firm's previous assumption for annual revenues per patient was $4,600. However, based on a higher than expected price, firm's projection goes to $6,300 per year. As a result, firm's Macugen sales estimate for '05 goes to $132 MM from $97 MM, raised '06 to $329 MM from $255 MM, and increased '07 to $499 MM from $411 MM<< Hmmm. Will have to ask Ian how this stacks up agianst QLTI's PDT treatment. ML seems to be assuming the market will just suck up the high price. Edit: old link to Visudyne pricing and reimbursement. Insurance pays for drug only, not laser treatment (still true?). If insurance pays for all (or most) of Macugen, it'll blow Visudyne out of the water. Cheers, Tuck

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