The patent cliff may still be taking a toll on Bristol-Myers Squibb, but the company's Q3 sales haul was enough to impress analysts thanks to star performances from a few key new products.
On Wednesday, Pfizer and Bristol-Myers Squibb got some positive data on an undo med for their market trailer, Eliquis. And that antidote could be on the way in the not-too-distant future.
Pfizer and Bristol-Myers Squibb's Eliquis has been lagging since launch time, trailing behind predecessors Pradaxa and Xarelto. But lately, the drugmakers' efforts have been paying off when it comes to market share, and a new indication may help keep the ball rolling.
Eliquis, the third entrant in the next-gen anticoagulant market, got off to a sluggish start. But now, marketers Bristol-Myers Squibb and Pfizer are pulling out all the stops when it comes to promoting the drug and expanding access
Eliquis, Pfizer and Bristol-Myers Squibb's new-age anticoagulant, got off to somewhat of a rocky start. The third entrant in the warfarin replacement market, the drug lagged well behind competitors last year, with EP Vantage estimating in October that analysts' 2014 sales estimates had fallen 60% within 12 months. Now, however, the drug is finally showing signs of life.
Bristol-Myers Squibb's melanoma drug Yervoy and clot-fighter Eliquis helped boost its earnings past analyst forecasts, with $333 million in profits on $3.9 billion in revenue.
Right now, Eliquis, the new-age clot-fighter from Pfizer and Bristol-Myers Squibb, is in third place in a three-horse race. But as it tries to catch up to rivals Pradaxa and Xarelto--not to mention the $3-billion-per-year sales forecasts analysts slapped on it in its early days--a new recommendation for expanded use in Europe should give it a boost.
It turns out that Boehringer Ingelheim's popular anticoagulant Pradaxa is safer than many people think. That is the finding of the FDA after taking another look at the side effects of the drug compared to the old standard warfarin and this time looking at a much larger and older patient base.
Boehringer Ingelheim, determined not to let clot-fighter Pradaxa be outdone by Bayer and Johnson & Johnson's Xarelto, has added a couple of new uses to the drug's label, snagging the FDA's okay to treat deep vein thrombrosis (DVT) and pulmonary embolism (PE) in some patients. But it still has a long way to go--and some safety concerns to dispel--before it can retake the anticoagulant throne.
When Bristol-Myers Squibb and Pfizer launched their new anticoagulant, Eliquis, early last year, Wall Street analysts predicted it would be a $3-billion-a-year blockbuster. After more than a year of struggling to reach that goal, the companies got some good news late Friday, when the FDA approved the drug to reduce the risk of blood clots in the legs and lungs following hip or knee replacement surgery.