Shares Of Some Impotence-Drug Makers Slide On Comparison With Viagra
June 03, 1998 2:20 PM
NEW YORK -(Dow Jones)- Shares of several makers
of impotence drugs were under pressure Wednesday
after a story in The Wall Street Journal reported that
patients' first choice will likely be Pfizer Inc.'s
blockbuster Viagra, despite the success of other drugs.
The article mentioned Zonagen Inc., MacroChem Corp.
and Vivus Inc., which all have clinical trial results on their
products being presented this week at the American
Urological Association meeting in San Diego.
Researchers said that none of the other drugs has been
directly compared with Viagra. However, they all have
more side effects or are more difficult to use than
Viagra, the article said.
"The stocks are definitely reacting to the Journal article
and not the clinical results," said Edmund Debler, an
analyst at Mehta Partners.
At the Urological Association meeting Tuesday,
researchers presented data that indicated Zonagen's oral
drug Vasomax was well tolerated in Phase III, or
late-stage, trials.
Researchers also said Tuesday that data from a new
study confirms the safety and efficacy of MacroChem's
Topiglan gel for treatment of erectile dysfunction.
Data was presented Tuesday that indicated Vivus's
Muse treatment, which is inserted directly into the
urethra, was less effective than had been believed.
In afternoon trading, shares of Vivus (VVUS) were
down $1.563, or 18%, at $7.188. MacroChem
(MCHM) shares slipped 43.8 cents, or 3.9%, to
$10.938, and shares of Zonagen (ZONA) declined
$4.688, or 13%, to $32.063.
TAP Holdings Inc. was also mentioned in the article.
The company, a joint venture of Abbott Laboratories
and Takeda Chemical Industries Ltd. of Japan, is
developing apomorphine, which acts directly on the
brain to create erections. However, shares of Abbott
Labs (ABT) were up 12.5 cents at $36.688.
-By Jennifer Fron Mauer; 201-938-5287;
jennifer-fron.mauer@cor.dowjones.com
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