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Biotech / Medical : OSI Pharmaceuticals (OSIP) - formerly Oncogene -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (321)	12/8/2005 11:19:58 AM
From: DewDiligence_on_SI	Read Replies (1) \| Respond to of 447

QLTI CC post-mortem; 1. Visudyne sales in the U.S. are being hurt by off-label use of Avastin, which has reached a 10% market share in U.S. new-patient treatments for AMD. (Avastin use in AMD outside the U.S. remains very small.) 2. QLTI acknowledges that Visudyne is in a state of permanent decline, and future use will be largely as an adjunct to Avastin or Lucentis. Consequently, QLTI will limit R&D for Visudyne to such combination uses. 3. QLTI expects the FDA to approve Lucentis in 2006 and is planning accordingly. -- Worst part of all this for OSIP: Macugen did not even merit a mention during the hour-long call except to say that QLTI will not fund any study of Visudyne in combination with Macugen.