Biotech Values

[DewDiligence]

End-user sales of Eliquis were $16M with $4M of inventory destocking, but this nuance is de minimis in the overall scheme of things. One problem is that 2/3 of US primary-care docs are still using warfarin rather than one of the new oral agents, according to BMY’s CC. Another problem is that Xarelto has a temporary advantage vs Eliquis in breadth of FDA-approved indications: Xarelto is approved for VTE prevention and treatment, while Eliquis is not yet approved for either.

The DTC ad campaign for Elquis starts imminently, which should help somewhat with the AF indication.