Shionogi aims to double the market for anti-influenza drugs with an FDA-approved treatment
Shionogi aims to double the market for anti-influenza drugs with an FDA-approved treatment
TOKYO (Reuters) - Japan's Shionogi & Co Ltd aims to double the world market for flu treatment with its drug Xofluza, the first anti-influenza drug approved by the US Food and Drug Administration. UU In almost 20 years, said its executive director.
The drugmaker on Monday raised its operating profit forecast for the whole year to 124.5 billion yen ($ 1.11 billion), backed by an early approval for the new drug, surpassing the market's average estimates of 121.08 billion yen, according to Refinitiv.
"While it is said that the global market for anti-influenza drugs ranges between 1,000 and 1,500 million dollars, we want to expand it to some 3,000 million dollars," said CEO Isao Teshirogi at a conference on Monday.
Xofluza, which is already sold in Japan, will be marketed globally by the drug manufacturer Roche. The Swiss pharmaceutical company said last month that it expects maximum sales of the drug to exceed 1 billion Swiss francs (1 billion dollars).
According to an estimate from the US Centers for Disease Control and Prevention. Last year, an exceptionally harsh flu season in the United States last year resulted in more than 900,000 people being hospitalized and more than 80,000 deaths.
Teshirogi stressed the convenience of the single dose of the drug, unlike Roche's Tamiflu, which requires two doses a day for five days.
"We do not expect new rival drugs to be launched one after the other in the near future," he added.
In the second quarter ended in September, the company also recorded a record 32.6 billion yen of royalty income from its anti-HIV drug that contributes 40 percent of its total revenue.
($ 1 = 112.1200 yen)
($ 1 = 0.9995 Swiss francs)
Report by Takashi Umekawa, Edited by Sherry Jacob-Phillips
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