Gilead's Sovaldi sales through the roof already, analyst predicts at least $8B this year
Hep C product on target to unseat Lipitor as the biggest-selling drug ever
March 7, 2014 | By Carly Helfand
With a revolutionary approach to hepatitis C and a price tag of $84,000 per 12-week treatment course, analysts expected big sales from Gilead's ($GILD) Sovaldi. Some even forecast it would reach $9 billion or more by 2017, at which level it would surpass Pfizer's ($PFE) Lipitor to take the crown for biggest-selling drug of all time. But none expected the exponential growth the drug is posting right now.
New Sovaldi prescriptions were up 20% week-over-week for the week ended Feb. 28--the 12th week of Gilead's launch. And according to ISI Group analyst Mark Schoenebaum, that has current projections looking rather slim.
"If prescriptions were to NEVER GROW AGAIN (i.e. flat-line from here), I estimate that 2014 sales will be $8B. If scrips grow an average of 1.5% week over week, I estimate that 2014 sales will be about $11B.
And as RBC analyst Michael Yee notes, Sovaldi's weekly total prescriptions are tracking 114% higher than what Incivek--a Vertex ($VRTX) hep C drug that holds the title for fastest drug launch ever after raking in $1.56 billion in four quarters--did in its first full quarter of launch.
so true, i agree.
Stocks To Watch
Arrowhead Research: ‘Early Innings’ for ‘Major Story’
News and commentary about the stocks you need to know about today
March 5, 2014, 11:50 A.M. ET
By Ben Levisohn
Adam Feuerstein @adamfeuerstein 6h
$ARWR DB picks up coverage with a buy. Yesterday it was RBC. This willl be a $100 stock in 2 months.
do the opposite of holly- known on stocktwits to do the opposite
means buy time.
AdamFeuerstein My Blog
Synta Pharma CEO Sudden Resignation Might Trigger Overhaul
By: Adam Feuerstein | 03/04/14
The directors sitting on Synta Pharmaceuticals' (SNTA) board finally looked at the stock chart above or spoke with a real-life oncologist. Either might explain why the company announced the sudden resignation of CEO Safi Bahcall Monday night. Bahcall is being replaced by a committee of directors until a new CEO can be found.
No specific reason was provided for Bahcall's resignation and a company spokesperson wouldn't elaborate. The subpar performance of Synta's stock price during a raging biotech bull market couldn't have helped his case for continued employment. No one but Bahcall really believed in the future of Synta's lead lung cancer drug ganetespib, either.
3 Surging Biotech Stocks to Watch: OncoSec, Clovis, Dyax
Tom Meyer | More Articles
March 03, 2014
Groupon: When Weakness In Stocks Can Be A Good Thing
Feb. 28, 2014 About: GRPN
By George Leong, B.Comm
This is why you should look at sell-offs in popular trading stocks as a buying opportunity to buy at a discounted sale price, rather than chase and buy the stock at higher prices.
It’s not magic or a well-kept secret formula to successful stock market investing, but rather just the insight to buy good companies on temporary weakness, such as Groupon.