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`E3 Vmtage: Eliqis projected sdes otf 60% for 2014 — FieroePhama
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`Topics: Financials
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`EP Vantage: Eliquis projected sales off 60% for
`2014
`
`Evaluation shows analysts‘ hopes for anticoagulent fall as sales remain weak
`
`October 18, 2013 | By Eric Palmer
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`When Eliquis was first released to the market, execs with partners Bristol-Myers
`Squirb ($BMY) and Pfizer ($PFE) cautioned that it would have a
`
`slow release. It was the third entrant in the wartarin alternative
`
`market behind Boehringer lnge|heim's Pradaxa and Johnson 8.
`Johnson ($J NJ) and Bayer's Xarelto. But data were on their side
`and they, and analysts, predicted big thiigs for the new drug.
`However, an evaluation of data from dmg intomtation specialist
`EvaluatePhamta finds that optimism is quickly waning as sales for
`Eliquis remain weak.
`
`1
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`According to an EP Vantage report provided in abbreviated form to
`FiercePharma, analysts’ predictions for 2014 sales of the
`anticoagulant have fallen 60% in the last 12 months. They now stand at $491
`million. That is as projections for 2014 sales of Xarelto have surged by 81% and
`60% in the respective tenitories for J&J and Bayer, to $1 bilion and $1.4 billion. EP
`Vantage believes the dosing advantage and broader label for that drug “might have
`been underestimated.‘
`
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`While it was late to the market, the advantages of Eliquis had led analysts to
`believe it would take the market by storm. Eliquis and Pradaxa are both better than
`warfarin in preventing stroke. Only Eliquis, however, reduced major bleeding over
`warfaiin and improved mortaity_ In fact, the Institute for Safe Medication Practices
`(ISMP) this week flagged its latest set of side-eltect reports to the FDA, putting
`anticoagulant (tugs at the top with Pradaxa Ieadiig the pack.
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`EP Vaiap: Eliqis projected sales 00 (1)96 for 2014 — FieroePtama
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`The EP Vantage evaluation points out that Goldman Sachs analysts were so
`excited by the superioriy of Eiquis that when the FDA approved the dug, they
`predicted first—year sales of $350 milion would be a "low hurdle.‘ That looks to be
`way off now. Consensus for 2013 currently stands at $129 milion, and that may
`not be reachable, given that I sold only $12 miion ii the second quarter. That was
`even worse that the disappoiiting $17 million posted for the first quarter. The
`report points out that in their first fill yea on the market alter being approved for
`
`stroke prevention, global sales of Pradaxa were $875 milion aid $582 million for
`xarenu
`The lousy sales in the second quarter ae wel known to BMS investors, who had
`to endure the compaiy cutting fuIl—year revenue and earnings forecasts at the
`sane time it ainounced the remarkably wk sales for Eliquis.
`
`Supporters pointoutthat ittakes tineforthe benefits ofthedmgto befully
`understood and that it can be really dilficult to get doctors and patients to charge
`trorna protocol they are accustomed to. But EP Vantage says it now appears that
`IS gong to take a whole lot longer than analysts tist expected.
`— read the EvaluatePhamia Vantage Poiit article
`
`Special Report: Top 15 Drug Launch Superstars - Xarelto
`
`Rehted A"i°'°53
`BMS, Pfizer say FDA to review Eliquis for new use
`Faltering Eliquis leaves Bristol-Myers‘ Q2 sales in the lurch
`Which new drugs promise to shake up markets the most?
`Armed with EU stroke approval, Ptizer, BMS talk up Eliquis‘ edge over rivals
`Safety group flags bleeding reports on Pradaxa, Xarelto and old standby warfarin
`
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`I
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`| Filed Under nimmyen Sqlfltb, Ennis, Pfzer
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