Healthy Skepticism Library item: 3674

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

Publication type: news

Kang P.
Forest Labs' Mylan Deal Alleviates Pipeline Concerns
Forbes.com 2006 Jan 12
http://www.forbes.com/technology/sciences/2006/01/12/forest-labs-mylan-nebivolol-0112markets03.html

Notes:

Ralph Faggotter’s Comments:

“This deal goes a long way in alleviating our pipeline concerns for Forest,”

These days, it’s all about ‘pipelines’.
Old drugs lose their patent protection with time and hence become less profitable, so what new drugs are in the pipeline?

Sadly, they are few and far between.

We need a new hypertension-treating drug like a hole in the head.
Can’t the billions of dollars spent on research come up with something more useful than this?

Full text:

Market Scan
Forest Labs’ Mylan Deal Alleviates Pipeline Concerns
Peter Kang, 01.12.06, 11:13

UBS Investment Research maintained a “neutral” rating on Forest Laboratories (nyse: FRX – news – people ) after the drug company announced an alliance with Mylan Laboratories (nyse: MYL – news – people ) for the experimental heart drug Nebivolol.

The agreement calls for Forest to make a $75 million upfront payment to Mylan, with potential milestone payments, and Mylan is also entitled to sales-based royalties from the drug.

“This deal goes a long way in alleviating our pipeline concerns for Forest,” wrote analyst Dimi Ntantoulis in a client note.

“We view this as a good deal for both companies, as Forest now has partially filled in the gap in its pipeline for new product launches and Mylan has found an excellent partner to market Nebivolol.”

The analyst raised the price target on Forest to $42 from $40.50.

Ntantoulis said the deal could bring Forest $82.5 million in revenue in fiscal 2008, or an earnings-per-share increase of 6 cents.

The UBS analyst expects the U.S. Food and Drug Administration to approve Nebivolol for the treatment of hypertension by late 2006.

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Far too large a section of the treatment of disease is to-day controlled by the big manufacturing pharmacists, who have enslaved us in a plausible pseudo-science...
The blind faith which some men have in medicines illustrates too often the greatest of all human capacities - the capacity for self deception...
Some one will say, Is this all your science has to tell us? Is this the outcome of decades of good clinical work, of patient study of the disease, of anxious trial in such good faith of so many drugs? Give us back the childlike trust of the fathers in antimony and in the lancet rather than this cold nihilism. Not at all! Let us accept the truth, however unpleasant it may be, and with the death rate staring us in the face, let us not be deceived with vain fancies...
we need a stern, iconoclastic spirit which leads, not to nihilism, but to an active skepticism - not the passive skepticism, born of despair, but the active skepticism born of a knowledge that recognizes its limitations and knows full well that only in this attitude of mind can true progress be made.
- William Osler 1909