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Pfizer's Celebrex prescriptions
drop
2005-01-06
|
Pfizer's Celebrex prescriptions drop
www.chinaview.cn 2005-01-06 08:17:42
BEIJING, Jan. 6 -- New prescriptions of Pfizer Inc's Celebrex painkiller slid 48 per cent the week after the company, the world's biggest drugmaker, released a study showing the medicine increased the risk of heart attack.
All US orders, including refills and new prescriptions, fell 38 per cent in the week ended December 24 compared with the previous week, according to data supplied on Tuesday by NDCHealth Corp, an Atlanta-based provider of health information services. Last week, rival data tracker Verispan said new Celebrex prescriptions fell 56 per cent in the same period.
Pfizer Chief Executive Officer Hank McKinnell had been counting on revenue from Celebrex and Bextra, a similar painkiller, to bolster sales as drug-patent expirations loom. The medicines, which generated more than US$3 billion of Pfizer's US$37.6 billion in worldwide sales in the first nine months of last year, are in the same class of medicines as Merck & Co's Vioxx, which was pulled on September 30 because of heart risks.
"Slowing prescription trends are going to hurt Pfizer, but it's not irreparable harm," John Farrall, who helps manage about US$18 billion at National City Private Client Group in Cleveland including 15.8 million Pfizer shares, said in a December 29 telephone interview. "Pfizer is very well balanced with a lot of key brands."
Pfizer shares were unchanged at US$26.45 at 4:03 pm in New York Stock Exchange composite trading. They slid 24 per cent last year. Pfizer spokeswoman Mariann Caprino did not return a message on Tuesday seeking comment.
Pfizer said on December 17 that high doses of Celebrex more than doubled the risk of heart attack in a study sponsored by the National Cancer Institute, which was looking at whether the drug might prevent precancerous colon growths.
The research showed that people taking 800 milligrams of Celebrex had 3.4 times the risk of cardiovascular events such as heart attacks compared with a placebo group, the US Food and Drug Administration (FDA) said. For patients taking 400 milligrams daily, the risk was 2.5 times greater.
Regulators are holding a hearing in February to weigh the safety of painkillers such as Celebrex and Bextra, which inhibit the Cox-2 enzyme linked to pain and swelling. Until then, the FDA urged doctors to limit prescriptions of Bextra and Celebrex.
Refills of Celebrex prescriptions in the United States slipped 30 per cent in the week ended December 24, according to the data from NDCHealth. New US prescriptions of Bextra dropped 26 per cent over the same period, while total orders declined 18 per cent, the data showed.
The weekly prescription numbers may be a little misleading because the week of December 24 was a holiday week. Many patients refill their prescriptions in the week or two before the holidays because they are traveling and some doctors close their offices, said David Moskowitz, an analyst with Friedman Billings Ramsey, who has an "outperform" rating on Pfizer.
(Source: China Daily)
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