Important note: Information in this article was accurate in 2003. The state of the art may have changed since the publication date.
|
|
Wall Street Journal - July 3, 2003
David P. Hamilton, Staff Reporter of The Wall Street Journal
The new drug, called Emtriva, inhibits an enzyme key to the replication of HIV, the AIDS virus. While Gilead will sell Emtriva as a stand-alone drug starting next week, analysts generally expect sales to be modest. The real payoff is likely to come in a year or two, when Gilead plans to combine Emtriva with its other AIDS drug, called Viread, in order to make a combination pill that AIDS patients can take just once a day.
Gilead, a biotechnology firm based in Foster City, Calif., plans to launch that "co-formulated" drug early in 2005, although some analysts believe it could reach the market by the end of next year. Once it is available, Gilead officials said, they hope to take on Combivir, a popular combination of the AIDS drugs AZT and 3TC sold by GlaxoSmithKline PLC.
"We're going to offer patients a real alternative to Combivir," said John Milligan, Gilead's chief financial officer. Gilead primarily plans to market the convenience of its once-daily dosing, compared with Combivir, which must be taken twice a day.
A GlaxoSmithKline spokeswoman said Combivir is "the cornerstone of HIV regimens" that physicians are comfortable with but didn't directly address any potential competition with Gilead's drugs.
Thomas Dietz, an analyst with Pacific Growth Equities, said that a Viread-Emtriva combination would give Gilead "a very compelling argument to go after the Combivir franchise." That said, Mr. Dietz and other analysts note that Gilead still faces a challenging task, simply because Combivir is well known and often prescribed by AIDS doctors.
Some optimists, however, argue that physicians may eagerly adopt a Viread-Emtriva combination. A recent survey of 50 AIDS doctors commissioned by the investment bank Leerink Swann & Co. suggested that Viread, Emtriva and the combination drug might rack up combined sales of $1.5 billion by 2005, said Bill Tanner, an analyst with the firm.
The approval of Emtriva, known generically as emtricitabine, confirms Gilead's status as a rising maker of antiviral drugs. It is the third drug from the company approved by the FDA in the last two years. Gilead gained control of Emtriva when it acquired Triangle Pharmaceuticals in January for $464 million.
In 4 p.m. Nasdaq Stock Market trading Wednesday, Gilead shares rose $1.36 to $56.36.
Write to David P. Hamilton at david.hamilton@wsj.com
030703
WJ030701
Copyright © 2003 - The Wall Street Journal. Reproduction of this article (other than one copy for personal reference) must be cleared through the WSJ Permissions Desk.
AEGiS is a 501(c)3, not-for-profit, tax-exempt, educational corporation. AEGiS is made possible through unrestricted funding from Boehringer Ingelheim, Bridgestone/Firestone Charitable Trust, Elton John AIDS Foundation UK, the National Library of Medicine, AIDS Walk of Orange County, and donations from users like you.
Always watch for outdated information. This article first appeared in 2003. This material is designed to support, not replace, the relationship that exists between you and your doctor.
AEGiS presents published material, reprinted with permission and neither endorses nor opposes any material. All information contained on this website, including information relating to health conditions, products, and treatments, is for informational purposes only. It is often presented in summary or aggregate form. It is not meant to be a substitute for the advice provided by your own physician or other medical professionals. Always discuss treatment options with a doctor who specializes in treating HIV.
Copyright ©1980, 2003. AEGiS. All materials appearing on AEGiS are protected by copyright as a collective work or compilation under U.S. copyright and other laws and are the property of AEGiS, or the party credited as the provider of the content. .