Quadra Logic: C$100 Million Sales Forecast

Canadian biotechnology company Quadra Logic is forecasting rapid sales growth, with turnover within five years reaching C$75-C$100 million ($55.3-$73.7 million).

The company's optimism is based on its new anticancer drug Photofrin (porfimer sodium) which was launched in Japan last month and is already selling in the Netherlands. Both countries have approved Photofrin for the treatment of esophageal cancer. Belgium, however, said the clinical data was insufficient to approve the drug (Marketletter March 6).

This year will also see the launch of Photofrin in Canada, according to Quadra Logic president Randal Chase, who forecasts 1995 sales of the drug at between C$2 million and C$4 million. He also believes that US approval for Photofrin will be granted this year, and filings are underway in Italy, France, Germany, Spain and Greece.