Biotech Values

[DewDiligence]

(MNTA/BAX)—BMY’s Orencia logged $257M of sales in 4Q11, +10% QoQ and +25% YoY, which is impressive growth for a drug that has been on the market for several years. FDA approval of the subcutaneous formulation in Jul 2011 (#msg-65720598) is contributing to the growth rate.

All told, Orencia is doing pretty well for a drug that some analysts had dismissed as an also-ran. It’s the clear leader in RA among non-TNF-a biologics, easily outselling Rituxan and Actemra.