Thursday, November 3, 2011

Why Dendreon Is Aiming Prostate Drug Pitches to Consumers

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tdp2664 InvestorPlace Dendreon ( NASDAQ : DNDN ) appears to be pulling out all the stops in an effort to restore at least some of the luster to its prostate cancer treatment Provenge. Once viewed as a potential blockbuster, Provenge sales may now top out at $500 million, Collins Stewart analyst Salveen Richter wrote to investors after meeting with management, according to an article in Medical Marketing & Media. And even that figure might be out of reach if Dendreon's aggressive direct-to-consumer advertising campaign falls short. The Seattle-based company's need for something to ignite sales of Provenge became even clearer when Dendreon reported third-quarter results Tuesday. Sales were up 5.6% in October to $26.4 million from $25 million in September, but the company added that November sales will fall short of October's. Even though Dendreon's revenue tripled from the same period a year earlier, it lost $147.1 million, or $1 per share, in the third quarter — almost twice the decline for the same period in 2010. By midday Thursday, investors had taken Dendreon to the whipping post, driving its shares down about 36%. For Dendreon, it was a case of déj



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