A Bloomberg update:
news.com
Excerpts:
Additional Markets
Celebrex also has been approved for sale in eight additional
markets since the beginning of 1999: Peru, Brazil, Canada,
Mexico, Colombia, Argentina, Switzerland and Hong Kong. It is
awaiting European approval.
The FDA gave Merck's drug little, if any, advantage over
Celebrex on the prescribing label, said Jeffrey Chaffkin, an
analyst with PaineWebber.
''The labels are essentially the same,'' he said.
The good news for Merck is that the FDA didn't highlight
questions about Vioxx's potential to cause water retention,
Chaffkin said. Water retention, or edema, can be a concern for
doctors treating elderly patients who already are at higher risk
for some heart problems.
Still, Merck had hoped its extensive studies would let it
say more about Vioxx's apparent lower risk of causing ulcers and
irritation in the gastrointestinal tract, Chaffkin said.
''They didn't get as strong a label in the GI as they
wanted,'' Chaffkin said. ''Right now, in terms of sheer revenue,
I think that Celebrex will always have an advantage.''
Chaffkin estimated peak sales of Celebrex at $2 billion to
$3 billion, with Vioxx more likely to sell in the bottom of that
range.
Single Dose
Some analysts see advantages in Merck's drug. While
Monsanto's pill can be used once a day, some patients take it
twice. Merck's drug is a ''true'' once-a-day pill, analysts have
said.
''There may be some cost advantage (to Vioxx); once-daily
dosing for Vioxx could be less expensive,'' said CIBC World
Markets analyst Steven Gerber. ''At present, we think Merck has
the edge.''
Gerber also said the approval is a chance for Merck to
showcase its Merck-Medco Managed Care division, which provides
pharmaceutical benefit services.
''This is also an interesting opportunity for Merck to use
the power of its Medco division,'' Gerber said. ''We think
they'll do a very good job with this product.''
To catch up with the team of Pfizer and Monsanto, Merck is
likely to use ads directed at consumers as well as the more
traditional ones placed in medical journals. It also will
probably give out thousands of free Vioxx samples, a tactic
Pfizer and Monsanto have used to promote Celebrex.
Drug 'War'
''It's going to be war out there,'' said Jack Lafferty, an
analyst with U.S. Trust, which holds about 9 million Merck
shares, according to regulatory filings.
In December, Merck announced that it would hire 700 new U.S.
sales representatives, adding to a then-current sales force of
about 4,000. |
