Biotech Values

[DewDiligence]

Are my concerns [about Lovenox competition from new oral anticoagulants] misguided?

No, your concerns are not misguided; however, this is a matter of degree—the loss of some business to the new oral anticoagulants would still leave Lovenox a very big-selling drug. 60% of Lovenox US sales (and 70% of unit volume) are in the hospital setting, where docs are less likely to abandon a tried and true injectable drug to a newfangled oral agent.

The AF/stroke-prevention indication where all of the new oral anticoagulants are likely to soon be approved is not a consequential market for Lovenox. Let’s have this discussion again after one of the oral anticoagulants is approved by the FDA for the more consequential indications of primary or secondary VTE prevention.