Biotech Values

[DewDiligence]

How Femara gained from its role in the adjuvant setting:

Until the DFS results from the ‘BIG 1-98’ head-to-head study of Femara vs Tamoxifen were reported in 2005, Femara was a modest-selling drug for NVS that was rarely discussed with investors. (NVS’ blockbusters such as Diovan and Gleevec garnered most of the investor attention.) Then in 2005, the DFS results from BIG 1-08 came out and Femara received a label expansion into the adjuvant setting.

The rest is, well, history…

2004: $454M
2005: $536M (‘BIG 1-98’ DFS results reported)
2006: $719M (FDA approves for adjuvant setting: Dec 2005)
2007: $937M
2008: $1.2B est. ($850M in first nine months)

2009 ought to see another healthy sales increase given the overall-survival results reported by PL1 in #msg-34135144.

Not bad for an ‘also-ran’ drug.