Anti-clot Drug Delayed

DrugIt seems that medical professionals in the industry have to wait a bit more for the new anti-clotting drug (in big talks these days) because a delay by the U. S. regulators in deciding over the proposed drug manufactured from Bristol-Myers Squibb Co. and Pfizer Inc. has pushed the date by three months to June 28.

Sources are saying that both the drug makers (i. e. Bristol-Myers and Pfizer) have recently provided some new information to the agency (no information over same) over the drug, which could have possibly resulted in the delay.

But many along with Sanford C. Bernstein Analyst Mr. Tim Anderson are not happy with the delay in the introduction of the drug Eliquis, as their estimations fear that pushing off the introduction date can severely affect the expected
2012 sales (versus Wall Street expectations) of $395 million. Moreover on Thursday, Mr. Anderson also said that the above estimate may have to be revised slightly as the dates have been pushed by three big months.

"A small delay in the approval of Eliquis is not terribly material to BMY/PFE—assuming there are no major issues with the product and that the product label reads favorably—but the delay will likely dampen our nearer-term forecasts for the product", Mr. Anderson wrote in a research note Thursday.

The news has increased the share costs of Bristol-Myers by 47 cents to $32.64 at 4 p. m. on Thursday in the New York Stock Exchange, whereas Pfizer share saw an increase of 37 cents to $21.49.

Expectations with Eliquis, (presently available in Europe) are so high that Mr. Anderson’s predictions have counted the annual sales of the drug to $3.7 billion by the year 2020.

Some competitive anti clotting drugs in the market from Boehringer Ingelheim GmbH and Johnson & Johnson might have felt ease for at least three months from now.