GSK ARIXTRA SALES UP, ALCHEMIA UP
March 27th 2008 11:19
Biotech Daily
Thursday March 27, 2008
Daily news on ASX-listed biotechnology companies
Thursday March 27, 2008
Daily news on ASX-listed biotechnology companies
* ASX DOWN, BIOTECHS UP: LIVING CELL UP 17%, SUNSHINE DOWN 20%
* ‘SUCCESS’ FORCES PROGEN REDUNDANCIES, POSSIBLE PLANT SALE
* GSK ARIXTRA SALES UP, ALCHEMIA UP
* CHEMGENEX EGM ISSUES DIRECTORS 3.35m OPTIONS
* TGA APPROVES KARMELSONIX’S PULMOTRACK
* INCITIVE DIVESTS PERFORIN PROGRAM
* PSIVIDA APPOINTS WINTON WILLESEE COMPANY SECRETARY
* SOLAGRAN OPENS TOMSK PLANT
THE MARKET
Sixteen of the Biotech Daily Top 40 stocks were up, 15 fell, six traded unchanged and three were untraded.
Living Cell was best, up five cents or 16.67 percent to 35 cents with 579,478 shares traded, followed by Acrux up 12.5 cents or 13.89 percent to $1.025 and Alchemia up three cents or 8.57 percent to 38 cents.
Sunshine Heart led the falls, down 2.4 cents or 20 percent to 9.6 cents with 33,300 shares traded, followed by Neuren down two cents or 16.67 percent to 10 cents and Antisense down 0.8 cents or 11.76 percent to 6.0 cents.
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ALCHEMIA, GLAXOSMITHKLINE
Following the recall of animal-derived heparin products, Glaxosmithkline’s synthetic heparin sales have increased while Alchemia has received “numerous enquiries” from investors.
Biotech Daily reported on March 25, 2008 that both the US Food and Drug Administration and the Australian Therapeutic Goods Administration had issued warnings about adverse events, including life-threatening anaphylaxis, reported in patients who have received unfractionated heparin in the US. The FDA has reported more than 20 related deaths.
Alchemia’s chief executive officer Dr Pete Smith said numerous studies found that Arixtra (fondaparinux) offered “superior safety and efficacy over both unfractionated heparin and LMWHs without the possibility of contamination”.
Alchemia expects to have its generic version of Arixtra in the market in about 12 months.
Alchemia said there were three classes of heparin: unfractionated animal derived heparin; low molecular weight heparins (LMWH), modified forms of animal-derived heparin; and the synthetic heparin (fondaparinux) Arixtra, marketed by Glaxosmithkline.
Alchemia said the contamination affected unfractionated heparin only, but LMWHs were also under investigation.
“We would expect that GSK’s sales of Arixtra will benefit from the adverse publicity surrounding its competitors and that this will increase the sales potential of our generic version,” Dr Smith said.
The global heparin market is worth $US4.6 billion, with Arixtra earning $US200 million in 2007 an increase of 87 percent over 2006 sales, Alchemia said.
Alchemia chairman Mel Bridges told Biotech Daily the company had received a number of calls and emails regarding the impact of the FDA and TGA warnings on sales of its generic synthetic heparin. He said some of the calls were from significant investors.
Glaxosmithkline Australia’s representative Bernadette Basell told Biotech Daily that the company’s UK office had noted “an increase in sales of Arixtra” since the FDA warning.
Alchemia was up three cents or 8.57 percent to 38 cents.
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