Uncertainty For Biochem Despite 3TC
Having risen to around C$17.25 ($12.57) on the news of encouraging results from Phase II/III trials of its anti-AIDS agent lamivudine (Marketletter November 28), Biochem's share price has fallen back to around the C$15.87 mark, according to local reports.
Analysts are divided as to the future of company based on lamivudine. Some are saying that the drug is not a major breakthrough in its field, while others are of the opinion that the trial results have been "dramatic."
Application will be made for approval of the product in both the USA and in Europe in the first half of 1995, according to Biochem's partner Glaxo (Marketletter November 28). Biochem is expected to receive around 15% on "net sales" of the product.
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