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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (7689)	1/10/2003 4:23:44 PM
From: Biomaven	Read Replies (1) \| Respond to of 52153

And here's a forecast for 2003 drug approvals: Reuters Modest pick-up seen in 2003 new drug approvals Friday January 10, 8:51 am ET LONDON, Jan 10 (Reuters) - The global pharmaceutical industry should enjoy a modest pick-up in new drug approvals in 2003 after the worst year in a decade in 2002, according to a report released on Friday. Lehman Brothers believes at least 30 novel drugs, including seven biological products, could win a green light from the U.S. Food and Drug Administration (FDA) in 2003. Last year, just 17 new chemical entities plus eight biologicals were approved by the Washington watchdog, the main gatekeeper to the $400 billion-a-year medicines market. The number of applications for new marketing authorisations is also expected to increase slightly to 24, compared with 21 filings in 2002, Lehman predicted. But this hardly signals an end to the industry's drought of new products, given that there was an average of 45 filings a year between 1995 and 2001. The implication is that many firms will continue to experience disappointing returns on the more than $35 billion that is poured into R&D laboratories around the world each year. Worries about a chronic decline in research productivity contributed to a fall of around one third in the market value of big pharmaceutical stocks on both sides of the Atlantic in 2002. In terms of product value, Lehman analysts estimate the aggregate peak sales potential of drugs likely to be approved in 2003 at $21 billion versus $18 billion in 2002. Companies with the most to gain include Eli Lilly & Co (NYSE:LLY - News), with four new drugs pending approval that together have sales potential of $5.5 billion, and GlaxoSmithKline Plc (London:GSK.L - News), with five likely approvals worth $3.9 billion in sales. Major drugs set to win an FDA okay this year include AstraZeneca Plc's (London:AZN.L - News) cholesterol fighter Crestor and two challengers to Pfizer Inc's (NYSE:PFE - News) top-selling Viagra impotence pill -- Cialis from Lilly/ICOS (NasdaqNM:ICOS - News) and Levitra from Glaxo/Bayer (XETRA:BAYG.DE - News). Significantly, all three of these drugs had originally been expected to go on sale in 2002 but were delayed by regulators seeking more information about their clinical effects, highlighting the challenges facing firms in getting new products to market. biz.yahoo.com