Impotence
Drug Cialis Sales Gain Lifts Icos to Profit
August 04, 2006
The Bothell biotech company said after markets
closed that it eked out a $6.1 million profit
in the second quarter, after splitting revenues
and expenses with partner Eli Lilly. It is Icos'
first quarterly profit when stock-option expenses
are counted, as is now required.
The impotence drug was approved for sale in
the United States in November 2003. Icos logged
one profitable quarter in 2005, before expensing
stock options became mandatory.
With $233 million in worldwide Cialis sales
in the second quarter, a 22 percent increase
over the same time a year ago, Icos said it
now expects to make an annual profit of $6 million
to $15 million in 2006, instead of a $5 million
loss. Worldwide Cialis
sales for this year had been projected at $860
million to $900 million, but Thursday the company
ratcheted that projection up to between $920
million and $950 million.
Clark said the company expects Cialis to "comfortably"
crack the $1 billion mark in worldwide sales
in 2007.
Icos managers spent much of their conference
call yesterday telling investors about plans
to fully exploit Cialis, and no time on other
drugs which could emerge from its research and
development.
Chief medical officer David Goodkin said a
low-dose, once-daily formulation of Cialis was
shown safe and effective in clinical trials
of 850 men, and more trials are under way or
planned concerning high blood pressure and pulmonary
arterial hypertension.
Marketing chief Leonard Blum said Cialis had
26.1 percent share of the U.S. impotence drug
market in June, and the overall impotence drug
market has started growing again after last
year's scare over suspected links to blindness.
Clark said Thursday he's "thrilled"
with the performance. But Icos shareholders,
whose stock has lost 18 percent year-to-date,
mostly are not.
Two years ago, Clark said Viagra
was "a habit whose time has passed."
Last month, Pfizer said Viagra remained the
No. 1 impotence drug, with $394 million in worldwide
second-quarter sales.
Icos shares were unchanged in after-hours trading,
closing at $22.77 share.
Source: http://www.redorbit.com/news/health/602462/impotence_drug
_cialis_sales_gain_lifts_icos_to_profit/index.html?source=r_health |
