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Biotech / Medical : Agouron Pharmaceuticals (AGPH) -- Ignore unavailable to you. Want to Upgrade?

To: Zirdu who wrote (5706)	11/24/1998 11:20:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 6136

AIDS Drug Makers Say Deaths Down AP Online, Tuesday, November 24, 1998 at 16:45 By PHIL GALEWITZ AP Business Writer NEW YORK (AP) - The pharmaceutical industry added five AIDS drugs to its arsenal this year and has 113 more medicines in development to treat the disease. The Pharmaceutical Research and Manufacturers of America, which released the figures Tuesday, credit the 54 AIDS drugs now available in the United States as the major cause for the decline in the nation's AIDS death rate. ''We are trying to push the point that there is a lot of hope for the future,'' said Dr. John Siegfried, the trade group's senior medical officer. AIDS patient advocates say they are grateful for the new drugs, but also say the medications are too costly and have too many side effects. The five leading AIDS medications cost an average of $4,276 each a year, according to the company's wholesale prices, which are often 10 percent to 20 percent below retail levels. Because most patients take multiple AIDS drugs, the federal government has estimated patients' annual drug costs at about $10,000. More than half the 240,000 people with AIDS in the United States receive combination drug therapies. Siegfried said drug companies must charge prices high enough to recoup the millions of dollars in research and development costs. ''If you get a gusher you have to fund the drilling for the next gusher,'' said Siegfried, who also works as a volunteer doctor at an AIDS clinic in Washington, D.C. That what Agouron Pharmaceutical Corp. had in mind last month when it raised by 4 percent the price of its AIDS drug Viracept to $5,913 a year. The La Jolla, Calif. based -company made $13.1 million profit from the drug on $466.50 million in sales for its 1998 fiscal year that ended in June. A company spokeswoman said the price hike was needed to support research into other AIDS treatments. ''It's discouraging to see drugs becoming more and more expensive,'' said A. Cornelius Baker, executive director of the National Association of People with AIDS. ''From a purely money-making perspective it surely should be in any pharmaceutical company's interest to produce a vaccine or drug for HIV that is easy to take and readily accessible,'' Baker said. Dupont Pharmaceuticals touted its pricing with its anti-HIV drug Sustiva that won Food and Drugs Administration approval Sept. 18. The once-a-day antiviral drug's wholesale cost is $3,942 a year. The number of AIDS drugs in development slipped this year from 124 to 113, and new approved drugs fell from 8 to 5, changes Friedman said did not signal a new trend. By comparison, the drug industry has 316 cancer drugs in testing and 96 drugs for heart disease/stroke drugs in development. After much campaigning from the AIDS patient community, the drug industry is developing drugs aimed at women and children. And it is developing treatments aimed at restoring the immune system rather than just trying to contain the virus. Meanwhile, seven companies are currently testing HIV vaccines. VaxGen of Brisbane Calif. is the only company in the final testing phase. Glaxo Wellcome, which has seven approved AIDS drugs, more than any other pharmaceutical maker, is awaiting federal FDA decisions on two more drugs, Agenerase and Ziagen.