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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: Solid who wrote (4366)	7/15/1998 2:34:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

Consumer Group Accuses Drug Makers Of Price Gouging In U.S. July 15, 1998 2:18 PM By Otesa Middleton WASHINGTON (Dow Jones)--Prescription drugs for mental disorders cost too much in the U.S., according to a consumer group. Public Citizen, founded by Ralph Nader, held a press conference Wednesday accusing drug companies of "price discrimination." Dr. Sidney Wolfe, director of the organization's health research group, said on average, drugs cost twice as much in the U.S. as they do in other countries the group surveyed. Public Citizen studied the prices of eight prescription antidepressants and antipsychotic drugs in 17 countries in North America and Europe. Each drug, including Eli Lilly & Co.'s (LLY) Prozac and Pfizer Inc.'s (PFE) Zoloft, cost the most in the U.S. Wolfe called for price controls similar to those in Europe, which would limit a company's profits on prescription drugs. "The Consumer Price Index is going up because pharmaceutical prices are going up," Wolfe said. According to Public Citizen's study, Novartis AG's Clozaril costs $317.03 for a 30-day supply in the U.S. The price in Spain is the lowest of the countries surveyed at $51.94. The average price in the surveyed countries, excluding the U.S., is $111.20. The pharmaceuticals makers defended themselves against similar charges Tuesday when the huge generic drug maker Mylan Laboratories Inc. (MYL) launched its "Campaign for Fair Pharmaceutical Competition." Mylan accused the makers of brand-name drugs of exploiting loopholes in the law to win patent extensions that delay generic versions. The campaign aims to get consumers to ask Congress to modify the Hatch-Waxman Act so brand-name drug makers can't get automatic patent extentions when they contest a generic. The Pharmaceutical Research and Manufacturers of America said Public Citizen and Mylan didn't take into account the rising cost of bringing a new drug to market. "The cost of research and development has more than doubled since 1976," said Jeff Trewhitt, spokesman for the association. In 1976, adjusted for inflation, companies spent an average of $125 million on a new drug. "Today the comparable cost is $300 million to $600 million," Trewhitt said. Public Citizen's study didn't take into account currency fluctuations, price controls, patent piracy, different standards of living and different medical practices in the countries, Trewhitt said. "The study also only looks at sticker prices. There are deep rebates to government programs and managed care. The study is simplistic and full of errors. "The U.S. accounts for half of all new medicines produced globally, partly because in other countries companies don't have the money for research and development," he said. In response to Mylan's accusations, Trewhitt said the generic company doesn't have these expenses. "It costs an average of $1 million to get a generic drug to market," Trewhitt said. -Otesa Middleton; 202-862-6654

To: Solid who wrote (4366)	7/15/1998 3:00:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

Viagra Expands The Erectile Dysfunction Market Business Wire July 15, 1998, 12:58 ET Health/Medical/Pharmaceutical Writers NEWTOWN, Pa.--(BW HealthWire)--July 15, 1998--Office-based physicians reported 3 million visits for erectile dysfunction in the 12 months ending April 1998, according to health care consultants Scott-Levin. That represents a 34% increase in the number of patients seeking treatment for erectile dysfunction from May 1997 to April 1998. Most of these visits are a result of Viagra, which went on the market in April. Scott-Levin data also show that erectile dysfunction patients requested drug therapy during 45% of the visits, and about 75% of the patient requests were granted by physicians. Viagra was the therapy requested most often during the 12 months ending April 1998, followed by MUSE and Caverject. According to Scott-Levin's Source Prescription Audit: -- Urologists wrote the most prescriptions (43%) for erectile dysfunction therapies in April 1998, followed by primary care physicians who prescribed 42% of the 659,000 prescriptions dispensed in that month. -- During its first month of availability, Viagra gained nearly 95% of the new prescriptions and 90% of the total prescriptions dispensed for this market. -- The Viagra launch arguably could be the most successful in history, considering the product generated 592,000 prescriptions in its first month on the market. In comparison to recent launches, the oral diabetes agent Rezulin produced 78,000 prescriptions in April 1997, the lipid lowering drug Lipitor generated 139,000 prescriptions in March 1997, and the obesity drug Redux attained 153,000 prescriptions in June 1996. -- In the 12 months ending April 1998, U.S. consumers spent $196 million on erectile dysfunction therapies at retail pharmacies. Managed care plans covered only half of the prescriptions dispensed for erectile dysfunction therapies in April 1998, compared to an industry average of 65%. On average, Viagra cost consumers about $9.30 per tablet in April. Scott-Levin's Source Prescription Audit Weekly data shows nearly 1.4 million Viagra prescriptions were dispensed since launch as of the week ending May 15, 1998. For more information, please contact Kevin McFadden at 800/982-5613. Scott-Levin, a division of PMSI/Scott-Levin Inc., provides consulting and communications services to pharmaceutical companies worldwide, including market research audits that address every aspect of pharmaceutical promotion. Visit Scott-Levin on the World Wide Web at scottlevin.com. --30--kjs/ix* CONTACT: Scott-Levin, Newtown Kevin McFadden, 800/982-5613 215/860-0440 Fax: 215/860-5477 email@scottlevin.com www.scottlevin.com KEYWORD: PENNSYLVANIA INDUSTRY KEYWORD: MEDICINE PHARMACEUTICAL Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com -0- (BW ) Jul/15/98 12:43 EOS (BUS) Jul/15/98 12:43 86 -0- (BUS) Jul/15/ 98 12:58

To: Solid who wrote (4366)	7/15/1998 6:12:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

More info about the Vasomax filing from Bloomberg: Zonagen Impotence Pill Clears First Step to Compete With Viagra Bloomberg News July 15, 1998, 5:34 p.m. ET Zonagen Impotence Pill Clears First Step to Compete With Viagra Washington, July 15 (Bloomberg) -- Zonagen Inc. said it filed an application with the U.S. Food and Drug Administration for clearance to sell what would be the first challenger to Pfizer Inc.'s record-selling Viagra impotence pill. Called Vasomax, the pill would be Zonagen's first drug on the market, and would pit The Woodlands, Texas-based company against Pfizer, the second largest U.S. drugmaker, in a battle for the burgeoning impotence drug market. Vasomax would be sold by Schering-Plough Corp., which last year entered the impotence drug fray by acquiring the rights to market the drug from Zonagen. Shares in Zonagen fell 2 11/16 to close at 22 15/16. Shares in New York, New York-based Pfizer fell 2 1/2 to 116. And shares in Schering-Plough fell 1 1/16 to close at 102 5/8. ''This event marks a major milestone for Zonagen,'' said Joseph Podolski, president and chief executive officer for the company. Analysts estimate that sales for Viagra, which ignited a previously sleepy impotence drug market, will reach $2 billion next year. While Zonagen's drug is expected to work only in about 30 to 40 percent of men as compared to Viagra's 70 percent of users, the drug is believed to be faster acting and perhaps to carry fewer side effects, qualities that could boost sales and help Vasomax compete against Viagra. Still, when the results of a large trial confirmed that the newer drug didn't work as well as Viagra, shares in Zonagen fell about 15 percent. An estimated 48 million men between the ages of 40 and 70 in Canada, the U.S. and Europe may suffer from impotence of some form, Zonagen said. The drug has been shown to work in about 30 to 40 percent of men with mild to moderate problems getting or keeping an erection, the company said. Zonagen said it expects to hear from the FDA within 60 days as to whether its application was accepted for evaluation, and the FDA could issue a decision on the drug within the next 14 months. Vasomax makes it possible for a man to attain or to maintain an erection by increasing blood flow into the genital area and relaxing the smooth muscles of the penis. Pfizer's Viagra has the same effect but triggers the blood flow in a different way. The major side effect of Zonagen's drug is a stuffy nose, which occurs in about 17 percent of those taking the highest dose of Vasomax. Other companies developing oral drugs to treat the erectile disfunction condition include Abbott Laboratories and Japan's Takeda Chemical Industries, whose Apomorphine tablet will likely be ready for government review in about a year. And Pharmacia & Upjohn Inc. has said it is developing a treatment as well. --Kristin Reed in Washington (202) 624-1858/ mfr