Vertex Pharmaceuticals (Nasdaq: VRTX ) is turning what was touted as a
two-horse race into a romp as the company's new hepatitis C drug Incivek has
left Merck's (NYSE: MRK ) and its competing Victrelis stuck in the starting
gate. Although both medications received FDA approval within days of each other,
Incivek is outselling Victrelis by a 4-to-1 margin. In its first five weeks on
the market, industry followers thought Incivek sales would hit about $31
million. The company more than doubled that figure. But can it keep up the pace?
The key will be what happens in the third quarter. If prescriptions don't grow
at all, sales would be about $345 million, while slow growth would lead to $410
million. If the current pace continues, quarterly sales should reach $458
million. Sanford C. Bernstein analyst Geoffrey Porges says that if the drug
continues its current growth rate, full-year sales could hit $1.2 billion.
What's even more impressive is that the blockbuster wasn't even launched
until May.
No comments:
Post a Comment