7:02AM Auxilium Pharma and GlaxoSmithKline (GSK) enter into a co-promotion agreement for Testim in the U.S.; AUXL raises guidance as a result (AUXL) : Auxilium Pharma and GSK announced that they have entered into an agreement for the co-promotion of Testim 1% (testosterone gel), which is indicated for testosterone replacement therapy in adult males for conditions associated with a deficiency or absence of testosterone. Under the terms of the agreement, Auxilium granted GSK the exclusive right to co-promote the sale of Testim with Auxilium in the U.S. through September 30, 2015. "While the Auxilium sales force has consistently performed well in an increasingly competitive environment, adding the strength and breadth of GSK's U.S. commercialization organization will further enhance our sales efforts with U.S. physicians who treat this condition."
Co raises FY12 rev guidance to $293-315 mln from $283-305 mln vs $299.31 mln Capital IQ Consensus Estimate; reduces net loss guidance to ($5)-(10) mln from ($5)-(15) mln. "As a result of this morning's announcement concerning the Testim U.S. co-promotion agreement, we are increasing Testim revenue guidance and trimming net loss guidance for 2012. While we have not changed our previously stated guidance for Selling, General & Administrative expense, it is likely that we will be near the top end of the range."
News 
Market Data 
Discover 
