Guest guest Posted January 4, 2006 Report Share Posted January 4, 2006 Wyeth (up $0.43 to $46.50, Research) bills its drug Effexor XR as the world's top selling antidepressant. The numbers bear this out, but they're slipping. Wyeth sold $861 million worth of the drug in the third quarter of 2005, a 4 percent decline from the same period the year before. Hazlett, analyst for Suntrust Humphrey, said Effexor sales totaled $3.5 billion in 2005 worldwide. In its most recent financial report, Wyeth attributed the Effexor sales decline to a slowdown in the overall antidepressants market. But for Wyeth, analysts see hope in an experimental antidepressant called desvenlafaxine. Wyeth filed a new drug application for desvenlafaxine to the FDA on Dec. 22 of last year. Bear Stearns analyst Boris projects the drug will enter the market in 2007, reaching $1 billion in annual sales by 2010. He adds that Wyeth is well-positioned to " maximize [its] franchise " for antidepressants before Effexor loses patent exclusivity in 2010. http://money.cnn.com/2006/01/04/news/companies/antidepressants/? cnn=yes Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 4, 2006 Report Share Posted January 4, 2006 Wyeth (up $0.43 to $46.50, Research) bills its drug Effexor XR as the world's top selling antidepressant. The numbers bear this out, but they're slipping. Wyeth sold $861 million worth of the drug in the third quarter of 2005, a 4 percent decline from the same period the year before. Hazlett, analyst for Suntrust Humphrey, said Effexor sales totaled $3.5 billion in 2005 worldwide. In its most recent financial report, Wyeth attributed the Effexor sales decline to a slowdown in the overall antidepressants market. But for Wyeth, analysts see hope in an experimental antidepressant called desvenlafaxine. Wyeth filed a new drug application for desvenlafaxine to the FDA on Dec. 22 of last year. Bear Stearns analyst Boris projects the drug will enter the market in 2007, reaching $1 billion in annual sales by 2010. He adds that Wyeth is well-positioned to " maximize [its] franchise " for antidepressants before Effexor loses patent exclusivity in 2010. http://money.cnn.com/2006/01/04/news/companies/antidepressants/? cnn=yes Quote Link to comment Share on other sites More sharing options...
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