Biotech Values

[poorgradstudent]

MDVN:

For those interested, US sales of Xtandi for the quarter came in at 230 million. In my opinion, this is a really solid drug with increasing revenues. There is a strong development roadmap for enzalutamide, so the only glaring weakness in MDVN is the lack of a pipeline.


The relevant 8K language:

On February 2, 2015 in Tokyo, Japan (February 1, 2015 in San Francisco, CA), Medivation, Inc.'s alliance partner Astellas Pharma Inc., reported its financial results for the quarter ended December 31, 2014. Astellas reported, among other things, that U.S. net quarterly sales of XTANDI? (enzalutamide) capsules were $230.2 million for the quarter ended December 31, 2014, 27% higher than the reported net sales of $181.4 million for the quarter ended September 30, 2014. An estimated 80% of the sequential quarter increase was driven by underlying demand following the September approval of the mCRPC chemo naive indication.

Based on information provided by Astellas, XTANDI U.S. net sales of $230.2 million for the quarter ended December 31, 2014 included a favorable gross-to-net adjustment, as recorded by Astellas, of approximately $3.8 million and an estimated increase in channel partner inventory of approximately one week, which was previously anticipated and disclosed.

Astellas also reported net sales of XTANDI outside of the U.S. for the quarter ended December 31, 2014, which we estimate at approximately $126 million, 5% higher than the net sales of approximately $120 million for the quarter ended September 30, 2014. U.S. dollar equivalent net sales for the quarter ended December 31, 2014 were adversely affected by a strengthening U.S. dollar by approximately $9 million or 7% compared to the quarter ended September 30, 2014.

Medivation plans to report its own financial results for the quarter and year ended December 31, 2014 on February 25, 2015.