Merck Message Board - Msg: 23903949

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Biotech / Medical : Merck

MRK 99.21

+1.0%

Dec 17 3:59 PM EST

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From: mopgcw	9/22/2007 4:12:45 AM
	of 1580

mstar Merck MRK presented Phase III data on Cordaptive, formerly known as MK-0524A, on Sunday at the 2007 European Society of Cardiology (ESC) in Vienna. The data showed favorable efficacy results in lowering cholesterol and an even more important favorable side effect profile. We are not changing our fair value estimate and maintain our sales projections for Cordaptive of $700 million by 2016, representing 3% of total sales. The study reported Cordaptive's side effect rate of moderate to severe flushing, reddening, and warm feeling of the skin, at 27% versus 49% for niacin in the first week of treatment. We believe this improved favorable side effect profile will enable the drug to take market share in the niacin market. Abbott Laboratories' ABT Niaspan holds the leadership position in this market and registered more than $300 million in sales in the first half of 2007. Merck filed Cordaptive in August with the Food and Drug Administration, and we believe management's expectations of approval by the second quarter of 2008 appear reasonable. We think Cordaptive offers a sound option to reduce cholesterol in patients where statin therapy continues to be ineffective or intolerable.

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