» » Vertex’ Incivek Available In Canada
Zacks Investment Research

Vertex’ Incivek Available In Canada

By Zacks Investment Research on | More Posts By | Zacks.com

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) recently announced the availability of Incivek (telaprevir) in Canada, for treating patients with genotype 1 chronic hepatitis C (HCV) with compensated liver disease, including cirrhosis (scarring of the liver). We note that even though the liver is damaged in patients with compensated liver disease, the liver continues to function.

The drug is to be used in combination with pegylated-interferon and ribavirin for the treatment of HCV in both treatment-naïve and treatment-failed patients.

Incivek was approved in Canada in August 2011 and in the US in May 2011 for the treatment of HCV. Further, the drug received approval in the European Union (EU) last month. Incivek is to be marketed in the EU and certain other territories under the brand name Incivo.

Incivek/Incivo has been developed by Johnson & Johnson’s (NYSE:JNJ) Tibotec, in collaboration with Vertex Pharma and Mitsubishi Tanabe Pharma. While Johnson & Johnson is responsible for the commercialization of Incivek outside North America and the Far East, Mitsubishi Pharma will market it in certain areas of the Far East including Japan.

Mitsubishi Tanabe filed for regulatory approval of Incivek in Japan in January 2011.

The drug, which faces competition from Merck & Co. Inc.’s (NYSE:MRK) Victrelis, recorded sales of $74.5 million in the second quarter of 2011 (the first quarter of the drug’s launch), and helped limit Vertex Pharma’s losses to 82 cents.

Riding on the strong sales of Incivek, total revenue during the second quarter soared 262% to $114.4 million, surpassing the Zacks Consensus Estimate of $54 million. (Read our full coverage on the earnings report at: Incivek Limits Vertex’s Losses)

Our View

We currently have a Neutral recommendation on Vertex Pharma. The stock carries a Zacks #3 Rank (Hold rating) in the short-run. We are looking forward to the uptake of Incivek as it’s the only marketed drug at Vertex Pharma and we believe that Incivek will help the company post positive earnings.

 
JOHNSON & JOHNS (JNJ): Free Stock Analysis Report
 

 

 

Recent Articles By Zacks Investment Research:

Leave A Comment :

Name (required)
E-mail (required - never shown publicly)
Your Comment (smaller size | larger size)
*/ ?>