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November 01, 2012 at 12:50 PM EDT
Medivation, Astellas Prostate Cancer Drug Soars in First Weeks on Market
MINYANVILLE ORIGINAL Medivation’s (NASDAQ:MDVN) newly approved prostate cancer drug passed a very early test as initial sales and a bullish forecast for the treatment Xtandi appear to validate expectations that it will become a blockbuster product. In the drug’s first 12 days of sales the drug Xtandi generated revenue of $14 million. What’s more Medivation’s sales partner Astellas Pharma predicted the treatment will produce sales of $100 million by the end of March 2013. If the forecast holds up those numbers would mean the drug will at least meet bullish Wall Street consensus estimates of $225 million in Xtandi’s ...
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