Cognex Prescribing Slower Than Expected

A year after the approval of Warner-Lambert's Cognex (tacrine), analysts such as Salomon Bros' Mariola Hagger are saying that prescription trends have been slower than expected. She forecasts that the drug will have only $65 million in sales this year rather than the $100 million previously forecast. Additionally, she has reduced her forecasts for 1995 from $200 million to $140 million, cautioning that the 1995 figure may be further amended down, as she notes that the drug is not as effective in as many patients as had been anticipated.

Meantime, Merrill Lynch's Stephen Buermann has reduced his 1994 expectations from $125 million to $75 million, while Hemant Shah of HKS & Co projects 1994 sales of only $60 million, down from an earlier forecast of $80 million.

A Warner-Lambert spokesperson said the company expects 1994 sales of $40-60 million, which is slightly less than it had originally forecast. The firm will soon begin a program designed to educate those caring for Alzheimer's patients, and to increase consumer acceptance of the drug.