Healthy growth for Lilly but Effient doubts raised
pharmafile | February 1, 2010 | News story | Sales and Marketing | 2009 financials, lilly
Lilly’s revenues for the full year rose 7% in 2009, thanks to a growth in sales of Zyprexa, the flagship product which is approaching US patent expiry.
Meanwhile analysts have raised doubts about the sales performance of Effient, the company’s new anti-blood clotting drug.
Total revenues from the US rose 12% thanks to higher prices and higher demand, but income outside the US increased just 1% to $9.5 billion, suppressed by unfavourable exchange rates and lower prices.
Revenues from Zyprexa rose over the year, with worldwide sales increasing 5% and with the US seeing a 6% increase driven by higher prices, partly offset by lower demand.
The drug will lose its US patent in 2011, with generic competitors set to cut a swathe through Lilly’s income. Lilly has no second generation antipsychotic to succeed Zyprexa, but did recently gain FDA approval for Zyprexa Relprevv, an extended release injectable suspension for the treatment of schizophrenia.
But this line extension will make a relatively small contribution to revenues, and the company is looking to new products in other therapy areas to plug the gap.
Alimta saw the strongest growth of all the portfolio in 2009, increasing its sales by 48% to 1.7billion, while Cymbalta was lifted 15%.
Effient, a new anti-blood clotting rival to Sanofi/BMS blockbuster Plavix, was launched in the US in August last year. Analysts had predicted peak sales in excess of $1billion, but some are now concerned about a perceived slow start for the product.
Total sales of Effient were $27 million. US Effient sales for 2009 were $22.5 million. Sales outside the US were $4.5 million.
Sales in the fourth quarter were just $3.8 million, compared to $22.6 million in the third quarter, prompting some to voice their doubts.
“For all the attention this product has received over the past few years, the first six months of sales are very underwhelming,” said Dr Tim Anderson, a drug analyst at Sanford Bernstein in a research note.
Lilly is co-marketing Effient with Daiichi Sankyo, and Lilly’s chief executive John Lechleiter told analysts it was still early days for the drug.
He said doctors were still learning about the product, and that Lilly was still increasing the number of hospitals that stock Effient.
He added that the drug’s initial licence was for a narrow patient population – those with acute coronary syndrome who are fitted with a stent – and that further licence extensions would boost sales.
“We feel just as good about Effient today as we did when we launched the product, so I think it’s too early to say that we should reset expectations,” he said.
The Lilly leadership team also highlighted the 29 drug molecules currently in mid or late-stage clinical testing.
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