6 Feb 2012
Alchemia Limited (ASX:ACL) announces an update on the sales performance of its marketed product, generic fondaparinux, which was launched in the US in July 2011 by its worldwide marketing partner Dr Reddy’s Laboratories.
On Feb 3, Dr Reddy’s discussed the progress of fondaparinux during its third quarter results presentation. The latest weekly data from US IMS Health shows that Dr Reddy's generic fondaparinux reported prescription market share of 18%. This represents recent sales in excess of $1.4m per week*. The retail segment of the market (non-hospital) is known to be relatively higher priced and profitable compared with the non-retail (hospital) segment, and Dr Reddy’s has achieved a dollar market share of over 30% in the retail segment. The dollar value of the retail market for fondaparinux has remained robust at $240m (MAT) through 2011, maintained by a sharp increase in prescription numbers after the introduction of lower price generics.
Commenting on the progress of generic fondaparinux, Alchemia’s CEO, Pete Smith said, “We are very happy with the advances made by Dr Reddy’s both in terms of the market share achieved and the increases in yields and production capacity. With this strong performance we believe that we are on track to meet our expectations for fondaparinux in 2012”.
He added “With a strong balance sheet, the anticipated cashflow from fondaparinux and the recent initiation of recruitment to our Phase III colorectal cancer and Phase II lung cancer trials, Alchemia is well placed for a very exciting year.”