Auxilium Says 2Q Xiaflex Sales Grew To $3.1M
From Associated Press (July 12, 2010)
MALVERN, Pa. -- Auxilium Pharmaceuticals Inc. said Monday it received $3.1 million in revenue from its drug Xiaflex in the second quarter, the first full quarter the drug was on the market.
The company said sales of Xiaflex totaled $2 million, and Auxilium received an additional $1.1 million in deferred payments from Pfizer Inc. Xiaflex was approved in February as a treatment for Dupuytren’s contracture, a condition in which the tendons of the hand thicken and shorten. That makes the fingers curve inward.
Auxilium began selling Xiaflex in late March and reported $200,000 in first-quarter sales. It said 1,629 physicians have completed training and can prescribe the drug.
The company also said it met with FDA in late June to discuss an approval for Xiaflex as a treatment for Peyronie’s disease, which causes abnormal curvature of the penis when erect. Auxilium said it will start late-stage testing of Xiaflex against that condition by the end of 2010.
Auxilium shares rose $1.21, or 5.6 percent, to $22.76 in morning trading. Shares of BioSpecifics Technologies Corp., which discovered the drug and licensed it to Auxilium, rose 25 cents to $19.68.
Pfizer holds the rights to Xiaflex in the European Union and 19 other countries. The drug has not yet been approved in those markets.
Posted: July 2010