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

To: BigKNY3 who wrote (6453)	12/9/1998 12:28:00 PM
From: Jim Lamb	Respond to of 9523

Viagra sales at 3 Billion so far.?? Anthony posted this story. Here is a longer version. Look at the last sentence. Has to be a typo right? -------------------------------------------------------------------------------- Tuesday December 8, 10:19 PM Pfizer says no plans to launch Viagra in India NEW DELHI, Dec 8 (AFP) - US drug manufacturer Pfizer said on Tuesday it had no plans to market the anti-impotence drug Viagra in India as the country had no strong patent laws. "It makes no commercial sense to market Viagra or any other of Pfizer's new drugs in India in the absence of patent protection," Simon Campbell, chief of the company's research wing who discovered the drug told reporters here. Since US patent laws do not yet apply in India, there is no legal barrier to indigenous manufacture of the drug. Campbell said a government plan to grant exclusive marketing rights for five years to multinational companies was "not entirely satisfactory." "Five years is too short a period for any drug firm to recover its investments," Campbell, currently in India to attend a global conference, was quoted by the Press Trust of India as saying. He said the company spent an average of about 500 million dollars on a new drug to be developed over 13 years of research and clinical trials before actually being certified for marketing. "It took 13 years to develop Viagra. Unless we have patent protection it makes no commercial sense to market the drug as the company has to recover the investments made on research in developing it," he said. "Research on developing new drugs is high risk business and only one out of 10 drugs being researched actually finds its way to the market," he said. Viagra has been hailed as the most important breakthrough to date in the treatment of male impotence. Trials suggest it helps seven out of 10 impotent men to have sex and works eight times out of 10. The phenomenal success has, however, been overshadowed to a degree by the unexpectedly high number of deaths attributed to the drug. In the United States alone some 69 deaths, mostly from heart attacks, have been linked to Viagra by the Food and Drug Administration. Viagra is banned in India and sells on the black market for 500 rupees (12 dollars) a pop, a steep sum in a poor country. At least four Viagra-related deaths have been reported across the country. "Viagra to me is not a recreation drug that boosts a man's potency but a drug that restores a normal sexual life to people with erectile dysfunctions," Campbell said. He said the drug had earned the company about three billion dollars since its launch. --------------------------------------------------------------------------------

To: BigKNY3 who wrote (6453)	12/9/1998 2:52:00 PM
From: Anthony Wong	Respond to of 9523

Merck 'Optimistic' About Quick Regulatory Review of Vioxx Bloomberg News December 9, 1998, 2:13 p.m. ET Merck 'Optimistic' About Quick Regulatory Review of Vioxx Whitehouse Station, New Jersey, Dec. 9 (Bloomberg) -- Merck & Co., the world's biggest drugmaker, said it is optimistic about the changes of getting quick regulatory review of its experimental painkiller Vioxx. Merck also disclosed for the first time that Vioxx is statistically no more likely to cause stomach ulcers than a placebo, or sugar pill. That finding is important because Vioxx is likely to be prescribed for long-term use in patients suffering from arthritis, who risk developing ulcers when they use existing painkillers. Merck shares rose 11/16 to 159 3/8. Merck told analysts that after three months, 7.3 percent of patients on placebo had ulcers, compared to 4.7 percent of those who received a 25 milligram daily dose of Vioxx and 8.1 percent of those who received 50 milligrams. By comparison, 28.5 percent of those treated with the painkiller ibuprofen developed ulcers. Merck presented the research on Vioxx at its analyst meeting in Whitehouse Station, New Jersey. Edward Scolnick, president of Merck's research laboratories, also said he was ''optimistic'' that the U.S. Food and Drug Administration would grant Merck expedited review of Vioxx. Merck submitted its U.S. Food and Drug Administration application for Vioxx in November. Merck is looking to Vioxx to offset the expected loss of patent by 2001 on four drugs with combined 1997 sales of $3.5 billion. Rival Monsanto Co.'s Celebrex is expected to be the first of a new class of painkillers, the Cox-2 drugs. These appear to treat pain and swelling without the side effects of existing painkillers, which can cause stomach bleeding. Vioxx and Celebrex are each expected to have annual sales of more than $1 billion. If Merck wins accelerated review of Vioxx, it could be introduced about six months after Celebrex. If not, it could follow by about a year. --Kerry Dooley in Whitehouse Station through the Washington news.com

To: BigKNY3 who wrote (6453)	12/9/1998 3:13:00 PM
From: Anthony Wong	Respond to of 9523

Merck to Add 700 Sales Reps, Seek Expanded Zocor Use (Update2) Bloomberg News December 9, 1998, 12:42 p.m. ET Merck to Add 700 Sales Reps, Seek Expanded Zocor Use (Update2) (Adds that Merck will present this afternoon on research programs in 7th through 9th paragraphs, comment from chairman in 9th and 10th paragraphs. ) Whitehouse Station, New Jersey, Dec. 9 (Bloomberg) -- Merck & Co., the world's biggest drugmaker, said it will add about 700 new sales representatives in the U.S. next year, expanding its current sales force of about 4,000 by 17.5 percent. The maker of the cholesterol-reducer Zocor and anti-baldness pill Propecia reviewed other steps it is taking to boosts its sales at an analysts' meeting. Merck also is seeking to add new benefits to the label for Zocor, its top-selling product with more than $3 billion in 1997 sales. Merck has been facing increased competition for Zocor sales in the past year from Warner-Lambert Co.'s similar drug Lipitor, which Pfizer Inc. helps market. Merck said it is seeking U.S. Food and Drug Administration approval to cite Zocor's ability to boost levels of HDL, the ''good cholesterol,'' in some patients. ''Pfizer and Warner-Lambert are formidable competitors,'' said Viren Mehta, an analyst with Mehta Partners, which has a ''buy'' rating on Merck. ''Merck is going to use every opportunity it can'' to try to boost Zocor sales. Merck said its mid-October filing was based on studies in which HDL rose about 13 percent to 16 percent for certain Zocor patients. Zocor sales rose 10 percent to $990 million while sales of Lipitor, introduced in 1997, more than doubled to $569 million. Merck rose 5/16 to 159 in midday trading. The company, based in Whitehouse Station, New Jersey, earlier touched a record high of 160 1/4. Later this afternoon, Edward Scolnick, president of Merck Research Laboratories, will give an update on the company's next potential blockbuster, the painkiller Vioxx. He also will speak on some of Merck's current projects in development. Scolnick leads a research program often considered the best in the drug industry. Still, rival Monsanto Co. could win FDA approval within a month of a painkiller, Celebrex, similar to Merck's Vioxx. Merck is at least several months behind Monsanto in the race to introduce the first of a new class of painkillers, the Cox-2 drugs. These appear to treat pain and swelling without the side effects of existing painkillers, which can cause stomach bleeding. Vioxx and Celebrex are each expected to have annual sales of more than $1 billion. Vioxx ''will be an important contributor'' to boosting Merck's profit, said the company' chief executive, president and chairman, Raymond Gilmartin, in comments this morning at the meeting. ''We strive for long-term earnings-per-share growth in the top quartile of our peer group, which is made up of 12 large-cap, multinational pharmaceutical companies such as Pfizer, Lilly and Glaxo Wellcome,'' Gilmartin said. Gilmartin did not comment directly on analysts' estimates in his speech. Chief executives often do address how ''comfortable'' they are with current estimates of how much profit their companies will earn at these kinds of meetings. Gilmartin will speak again later today. --Kerry Dooley in Whitehouse Station through the Washington news.com

To: BigKNY3 who wrote (6453)	12/9/1998 4:25:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

NDA for Vioxx submitted to FDA on Nov. 23..around 6 months behind Celebrex, even if Vioxx is given priority review status. Excerpt from Merck's new release: The company also revealed new data on VIOXX™ (rofecoxib) -- its once- daily, anti-inflammatory COX-2-specific inhibitor for the treatment of the signs and symptoms of osteoarthritis and the relief of pain -- and confirmed it had submitted a New Drug Application to the U.S. Food and Drug Administration on November 23. Merck expects to have filed similar regulatory applications worldwide by the end of the year. News Release - New Products to Drive Revenue and Earnings Growth, Merck Tells Analysts; New Data Released on Investigational Medicine for Osteoarthritis and Pain biz.yahoo.com

To: BigKNY3 who wrote (6453)	12/9/1998 5:14:00 PM
From: Anthony Wong	Respond to of 9523

Merck Guides Analysts to Lower Estimates, Shares Fall (Update1) Bloomberg News December 9, 1998, 4:36 p.m. ET Merck Guides Analysts to Lower Estimates, Shares Fall (Update1) (Updates markets, adds analyst comment) Whitehouse Station, New Jersey, Dec. 9 (Bloomberg) -- Merck & Co., the world's biggest drugmaker, guided analysts to lower estimates for its profit in 1999 as it hires new sales people and prepares to introduce its most important new drug. Merck Chairman and Chief Executive Raymond Gilmartin said the company could have per-share profit of $4.27 to $4.34 in 1998 and $4.85 to $4.95 in 1999. Gilmartin's remarks at the company's annual meeting with analysts meeting at its headquarters in Whitehouse Station, New Jersey, sent shares down because the figures he gave are at the lower end of the range of analysts' estimates. Merck had been expected to earn $4.30 a share in 1998 and $4.97 a share in 1999, the average estimates of analysts polled by First Call Corp. Merck fell 6 7/16 to close at 152 1/4. Earlier in the day, Merck touched an all time high of 161 3/4. Overall, investors were disappointed that Merck didn't have any dramatic good news to announce at the analysts meeting, as it has in past years, said Jeffrey J. Kraws, an analyst with Everen Securities with an ''outperform'' rating on Merck. ''There was a lot of pent-up demand,'' he said. Expanded Sales Force Earlier, Merck said it will add about 700 new sales representatives in the U.S. next year, expanding its current sales force of about 4,000 by 17.5 percent. Merck, the maker of the cholesterol reducer Zocor and the AIDS pill Crixivan, said about 600 of the new sales representatives will target primary care physicians. The company also said it's seeking U.S. Food and Drug Administration permission to include information on its Zocor drug's label about how it may help boost levels of HDL, the so- called ''good cholesterol.'' The move shows Merck is working hard to compete against Warner-Lambert Co.'s cholesterol-reducing drug Lipitor, said Viren Mehta, an analyst with Mehta Partners, which has a ''buy'' on Merck. Merck also said it is optimistic about the chances of getting quick regulatory review of its experimental arthritis medicine Vioxx. If Merck wins accelerated review at the U.S. Food and Drug Administration, Vioxx could be introduced about six months after Celebrex. If not, it could follow by about a year. Merck disclosed for the first time a study that indicates Vioxx is statistically no more likely to cause stomach ulcers than a placebo, or a sugar pill. That finding is important because Vioxx is likely to be prescribed for long-term use in patients suffering from arthritis, who risk developing ulcers when they use existing painkillers. Marketplace Battle Merck is lagging rival Monsanto Co. in what likely will become ''one hell of a marketplace battle,'' said Anstice, who leads Merck's U.S. drug sales. At an analyst meeting today, Merck said its studies of Vioxx are more extensive than was the research Monsanto has done on its similar drug, Celebrex. Vioxx and Monsanto's Celebrex are both so-called Cox-2 drugs, which appear to treat pain and swelling without causing irritating the stomach as existing painkillers do. Merck told analysts today that after three months, 7.3 percent of patients on placebo had ulcers, compared to 4.7 percent of those who received a 25 milligram daily dose of Vioxx and 8.1 percent of those who received 50 milligrams. By comparison, 28.5 percent of those treated with the painkiller ibuprofen developed ulcers. Merck submitted its FDA application for Vioxx in November. Merck is looking to Vioxx to offset the expected loss of patent by 2001 on four drugs with combined 1997 sales of $3.5 billion. Vioxx and Celebrex is expected to be the first of a new class of painkillers, the Cox-2 drugs. These appear to treat pain and swelling without the side effects of existing painkillers, which can cause stomach bleeding. Vioxx and Celebrex are each expected to have annual sales of more than $1 billion. --Kerry Dooley in Whitehouse Station through the Washington news.com