Algeta to co-promote Alpharadin in US
pharmafile | April 12, 2012 | News story | Sales and Marketing | Algeta, Bayer, prostate cancer
Algeta has exercised its option to co-promote Alpharadin for the treatment of cancer patients with bone metastases in the United States.
The Oslo-based, oncology-focused drug discovery company teamed up with Bayer in 2009 to develop the drug. The companies are now preparing marketing teams in anticipation of the drug’s US approval.
Alpharadin (radium-223 chloride) has been fast-tracked by the FDA, and the two companies expect US and Europe regulatory decisions within the next few months.
An update on phase III trial published in February showed patients taking it had an increased median overall survival of 3.6 months (14.9 months in the Alpharadin arm vs. 11.3 months in the placebo arm).
Analysts say the drug could hit peak sales in excess of $1 billion, but it is entering an increasingly competitive market. A number of other significant new treatments, such as Janssen’s recently launched Zytiga, are also in contention.
Algeta will be responsible for 50% of US marketing costs Alpharadin, and will receive 50% of the profits.
In anticipation of the US approval and launch, Algeta is preparing its new US subsidiary headquarters in Cambridge, MA. In January this year it hired Jeff Albers, former head of Genzyme’s US Haematology & Oncology Business, to lead the US operations.
Algeta US has now also recruited Philina Lee, formerly Global Product Manager for Jevtana (cabazitaxel) at Sanofi, as Director of US Marketing. Algeta US is now focused on building a field force including marketing and medical affairs personnel ahead of the launch of Alpharadin. This process will be accelerated as a result of Algeta’s successful fundraising in February 2012.
Andrew Kay, Algeta’s President and chief executive, said he believed the decision to co-market in the US would be a major benefit for the business.
“It will allow us to move ahead rapidly with the building of a high-quality commercial operation in the USA, the world’s largest pharmaceutical market. We believe that Alpharadin has the potential to bring a new therapeutic option to cancer patients with bone metastases and we, together with Bayer, are focused on making Alpharadin a success.”
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