Another point about BRL49563, the TZD (PPARg agonist) mentioned in the ADA abstract (and tested in mouse models of Type 2 diabetes vs and in combination with LGND268). I believe this SBH's Avandia, which is in PIII testing. A couple of mentions of Avandia worthy of note:
from a very long article in streetnet.com
streetnet.com
Key quote: "Avandia, an oral drug for diabetes, is highly anticipated and addresses
a multi-billion-dollar market. The drug is currently in phase III
clinical trials and is considered to be 100 times more potent than
Warner-Lambert's Rezulin."
and today in Reuters, on SBH, key quote by CEO:
"Company chief executive Jan Leschly told Reuters in an interview in April that Avandia, as one of SmithKline's four leading development products, would take the company into a new therapeutic area.
He said that all four new products "could be what the market talks about as blockbusters" and stated that the potential market for Avandia was much larger than that for insulin."
whole article follows:
SmithKline<SB.L> up again ahead of U.S. conference
LONDON, June 11 (Reuters) - Shares in British drugs company SmithKline Beecham Plc <SB.L> rose again on Thursday ahead of a U.S. diabetes conference and after positive broker comment and ongoing bid speculation, traders said.
The American Diabetes Association is due to hold a weekend conference, at which SmithKline will push its new diabetes drug Avandia, market sources said.
Sources at BT Alex Brown said the brokerage had issued positive comment on the stock on Thursday ahead of the conference, and reiterated its "buy" rating.
The stock bucked a weaker market trend to rise 9p, or 1.3 percent, to 724p by 0900 GMT in volume of 2.9 million shares, making it once again one of the most actively traded FTSE stocks.
The share price has risen 13 percent since hitting a five-month closing low of 642 pence on June 2. Its recovery has been aided by fresh bid speculation since news last week that Sweden's Astra AB <ASTRa.ST> was in talks to buy U.S. pharmaceutical company, Merck & Co <MRK.N>, out of a U.S. joint venture.
Company chief executive Jan Leschly told Reuters in an interview in April that Avandia, as one of SmithKline's four leading development products, would take the company into a new therapeutic area.
He said that all four new products "could be what the market talks about as blockbusters" and stated that the potential market for Avandia was much larger than that for insulin.
A market source said Goldman Sachs repeated its "market performer" rating on SmithKline on Thursday, but no one at the brokerage was available to give confirmation.
05:22 06-11-98 |
