Genzyme Shares Rise On New Thyrogen Results
Genzyme has been boosted by data from a second Phase III trial ofThyrogen (recombinant thyroid stimulating hormone) which revealed improved results over an earlier Phase III study completed in 1994.
The data showed that the drug produced radioiodine scans that were clinically and statistically equivalent to those produced after patients were taken off their thyroid hormone supplements prior to screening, while allowing patients to avoid the debilitating hypothyroid symptoms associated with treatment withdrawal. The results provide further support for the product's role in thyroid cancer management.
Genzyme said it will file for approval of Thyrogen in the USA and Europe later this year, and in Canada in early 1998. The company estimates that the potential market for the product is around $75 million in these three markets, and if all continues to go well, the product should bring in revenues of $30-$40 million a year for Genzyme, according to Edmund Debler of Mehta & Isaly.
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