INTERVIEW-Centocor sees 1997 ReoPro sales $250 mln
by Susan Spielberg
NEW YORK, Sept 30 (Reuter) - Based on projections by its
marketing partner, Centocor Inc CNTO.O expects sales of its
anti-platelet agent, ReoPro, to hit $250 million in 1997.
David Holveck, president and chief executive officer, also
said in an interview that he is comfortable with analysts'
consensus earnings estimate of $0.52 a share in 1997, compared
with a loss of $0.19 a share in 1996, and $1.10 a share in
1998.
"It's aggressive, but I stand by it," Holveck said,
referring to the 1998 estimate.
INTERVIEW-Centocor sees 1997 ReoPro sales =2
"ReoPro is expanding very rapidly. Third quarter ReoPro
sales will be higher than in the second quarter. (Eli) Lilly
(and Co LLY.N) believes ReoPro sales will be $250 million in
1997," he said.
ReoPro, which is used to prevent blood clots in patients
undergoing angioplasty, is Centocor's only product on the U.S.
market, and is marketed worldwide by Eli Lilly.
ReoPro sales were $51.7 million in the first quarter of
1997 and $59.8 million in the second quarter.
INTERVIEW-Centocor sees 1997 ReoPro sales =3
After turning profitable in the fourth quarter of 1996,
Centocor earned $0.05 a share in the first quarter of 1997 and
$0.01 a share in the second quarter.
Centocor stock was up 1-3/8 to 47-3/4 in afternoon trade.
The stock began a steep ascent from 38-3/4 in late August
after studies showed COR Therapeutics Inc's CORR.O competing
drug, Integrilin, was not as effective as ReoPro.
Holveck said that Centocor keeps 50 to 55 percent of total
ReoPro sales and that the company's profit on its portion of
sales is about 50 percent.
INTERVIEW-Centocor sees 1997 ReoPro sales =4
Centocor is currently finishing Phase II testing of the
drug for an acute myocardial infarction (heart attack)
indication and expects to present the results in November.
Holveck said that Phase III testing of the drug for that
indication will go through 1998 and the beginning of 1999.
"We'll file the data in the second half of 1999 and then
six to nine months later, in 2000, should hear about approval,"
Holveck said.
INTERVIEW-Centocor sees 1997 ReoPro sales =5
Whereas Centocor intends to continue its marketing
partnership with Lilly for ReoPro, Holveck sees the opportunity
to market a product on its own using the agent cA2 for Crohn's
disease, a chronic inflammation of the gastrointestinal tract.
Centocor has finished testing cA2, an anti-inflammatory, for
treatment of enterocutaneous fistulae, a complication of
Crohn's disease. A fistula is an abnormal passage that
develops as a result of disease.
Since the population involved is much smaller than ReoPro's
cardiovascular market, the investment in a marketing
infrastructure for cA2 would be considerably more manageable.
INTERVIEW-Centocor sees 1997 ReoPro sales =6
"It's a tight cohort of patients with the fistula
(indication). We believe review will be prompt. We'll file in
November or December of 1997 and could look for an approval
letter in 1998," stated Holveck.
Holveck said the manufacturing system for cA2 is in place.
He said the company expects to build an external market force
of about 40 people in the U.S.
When asked about future capital needs, Holveck said that
the company will need capital to expand manufacturing, which it
will fund through borrowing.
The company would use equity to buy products or other
companies.
Holveck said that Centocor is currently looking at company
and product acquisition opportunities, and some potential
purchases are in new areas.
REUTER
Rtr 19:11 09-30-97
Copyright 1997, Reuters News ServiceNTERVIEW-Centocor sees 1997 ReoPro sales $250 mln
by Susan Spielberg
NEW YORK, Sept 30 (Reuter) - Based on projections by its
marketing partner, Centocor Inc CNTO.O expects sales of its
anti-platelet agent, ReoPro, to hit $250 million in 1997.
David Holveck, president and chief executive officer, also
said in an interview that he is comfortable with analysts'
consensus earnings estimate of $0.52 a share in 1997, compared
with a loss of $0.19 a share in 1996, and $1.10 a share in
1998.
"It's aggressive, but I stand by it," Holveck said,
referring to the 1998 estimate.
INTERVIEW-Centocor sees 1997 ReoPro sales =2
"ReoPro is expanding very rapidly. Third quarter ReoPro
sales will be higher than in the second quarter. (Eli) Lilly
(and Co LLY.N) believes ReoPro sales will be $250 million in
1997," he said.
ReoPro, which is used to prevent blood clots in patients
undergoing angioplasty, is Centocor's only product on the U.S.
market, and is marketed worldwide by Eli Lilly.
ReoPro sales were $51.7 million in the first quarter of
1997 and $59.8 million in the second quarter.
INTERVIEW-Centocor sees 1997 ReoPro sales =3
After turning profitable in the fourth quarter of 1996,
Centocor earned $0.05 a share in the first quarter of 1997 and
$0.01 a share in the second quarter.
Centocor stock was up 1-3/8 to 47-3/4 in afternoon trade.
The stock began a steep ascent from 38-3/4 in late August
after studies showed COR Therapeutics Inc's CORR.O competing
drug, Integrilin, was not as effective as ReoPro.
Holveck said that Centocor keeps 50 to 55 percent of total
ReoPro sales and that the company's profit on its portion of
sales is about 50 percent.
INTERVIEW-Centocor sees 1997 ReoPro sales =4
Centocor is currently finishing Phase II testing of the
drug for an acute myocardial infarction (heart attack)
indication and expects to present the results in November.
Holveck said that Phase III testing of the drug for that
indication will go through 1998 and the beginning of 1999.
"We'll file the data in the second half of 1999 and then
six to nine months later, in 2000, should hear about approval,"
Holveck said.
INTERVIEW-Centocor sees 1997 ReoPro sales =5
Whereas Centocor intends to continue its marketing
partnership with Lilly for ReoPro, Holveck sees the opportunity
to market a product on its own using the agent cA2 for Crohn's
disease, a chronic inflammation of the gastrointestinal tract.
Centocor has finished testing cA2, an anti-inflammatory, for
treatment of enterocutaneous fistulae, a complication of
Crohn's disease. A fistula is an abnormal passage that
develops as a result of disease.
Since the population involved is much smaller than ReoPro's
cardiovascular market, the investment in a marketing
infrastructure for cA2 would be considerably more manageable.
INTERVIEW-Centocor sees 1997 ReoPro sales =6
"It's a tight cohort of patients with the fistula
(indication). We believe review will be prompt. We'll file in
November or December of 1997 and could look for an approval
letter in 1998," stated Holveck.
Holveck said the manufacturing system for cA2 is in place.
He said the company expects to build an external market force
of about 40 people in the U.S.
When asked about future capital needs, Holveck said that
the company will need capital to expand manufacturing, which it
will fund through borrowing.
The company would use equity to buy products or other
companies.
Holveck said that Centocor is currently looking at company
and product acquisition opportunities, and some potential
purchases are in new areas.
REUTER
Rtr 19:11 09-30-97
Copyright 1997, Reuters News Service |
