Eyetech raises revenue forecast for Macugen

Remaining bullish about its prospects for Macugen, a treatment for wet, age-related macular degeneration, Eyetech has raised its sales forecast for the drug. Eyetech, which markets the drug with Pfizer, raised its sales forecast by $40 million for the year. Eyetech shares advanced on the news.

"Macugen's launch has exceeded our initial expectations and we are pleased that Macugen is quickly establishing itself as a foundation therapy for neovascualar AMD," said David Guyer, the company's CEO, in a statement.

- read this article from MarketWatch for more